Handelsbanken Fonder AB Sells 45,260 Shares of U.S. Bancorp (NYSE:USB)

Handelsbanken Fonder AB lowered its stake in U.S. Bancorp (NYSE:USB) by 10.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 393,683 shares of the financial services provider’s stock after selling 45,260 shares during the quarter. Handelsbanken Fonder AB’s holdings in U.S. Bancorp were worth $16,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Avanza Fonder AB lifted its position in U.S. Bancorp by 6.8% in the first quarter. Avanza Fonder AB now owns 118,514 shares of the financial services provider’s stock valued at $5,097,000 after purchasing an additional 7,563 shares during the last quarter. Manitou Investment Management Ltd. bought a new stake in U.S. Bancorp in the first quarter valued at approximately $64,000. Accurate Wealth Management LLC lifted its position in U.S. Bancorp by 18.5% in the first quarter. Accurate Wealth Management LLC now owns 11,771 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 1,839 shares during the last quarter. Simplicity Wealth LLC bought a new stake in U.S. Bancorp in the first quarter valued at approximately $205,000. Finally, GAMMA Investing LLC lifted its position in U.S. Bancorp by 0.9% in the first quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

NYSE:USB opened at $44.21 on Thursday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market cap of $68.87 billion, a PE ratio of 11.66, a P/E/G ratio of 1.73 and a beta of 0.99. The stock has a 50 day moving average price of $41.46 and a 200 day moving average price of $45.26.

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

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Raymond James reissued an “outperform” rating and set a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Cowen initiated coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their target price on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $50.72.

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.