50,354 Shares in U.S. Bancorp $USB Acquired by ASO GROUP Ltd

ASO GROUP Ltd purchased a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, Holdings Channel reports. The fund purchased 50,354 shares of the financial services provider’s stock, valued at approximately $2,687,000. U.S. Bancorp makes up about 1.0% of ASO GROUP Ltd’s investment portfolio, making the stock its 16th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at approximately $25,000. JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at approximately $28,000. Westfuller Advisors LLC increased its holdings in shares of U.S. Bancorp by 54.7% during the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 215 shares in the last quarter. Finally, Binnacle Investments Inc increased its holdings in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 1.5%

Shares of USB opened at $57.66 on Friday. The stock has a market capitalization of $89.44 billion, a PE ratio of 12.09, a P/E/G ratio of 1.02 and a beta of 0.97. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day simple moving average is $55.12 and its 200-day simple moving average is $54.50.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Truist Financial cut their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. Barclays boosted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. Finally, Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.