NorthCrest Asset Manangement LLC Reduces Stock Position in U.S. Bancorp (NYSE:USB)

NorthCrest Asset Manangement LLC lowered its stake in U.S. Bancorp (NYSE:USB) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,267 shares of the financial services provider’s stock after selling 471 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in U.S. Bancorp were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Brighton Jones LLC boosted its holdings in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of U.S. Bancorp by 22.0% during the 4th quarter. Empowered Funds LLC now owns 33,697 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 6,079 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of U.S. Bancorp by 35.8% during the 4th quarter. Vontobel Holding Ltd. now owns 31,153 shares of the financial services provider’s stock worth $1,490,000 after acquiring an additional 8,214 shares during the last quarter. Banque Pictet & Cie SA purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $239,000. Finally, Valeo Financial Advisors LLC boosted its stake in shares of U.S. Bancorp by 5.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 28,758 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 1,565 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on USB shares. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Thursday, April 3rd. TD Cowen began coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada decreased their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $50.72.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $42.93 on Monday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company’s 50-day moving average price is $41.74 and its 200-day moving average price is $45.01. The company has a market cap of $66.88 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the previous year, the company earned $0.78 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.