Farmers & Merchants Investments Inc. Has $11.20 Million Stake in U.S. Bancorp (NYSE:USB)

Farmers & Merchants Investments Inc. grew its stake in U.S. Bancorp (NYSE:USB) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,368 shares of the financial services provider’s stock after purchasing an additional 13,825 shares during the period. Farmers & Merchants Investments Inc.’s holdings in U.S. Bancorp were worth $11,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP increased its stake in U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 210 shares in the last quarter. Covestor Ltd increased its stake in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 214 shares in the last quarter. TrinityPoint Wealth LLC boosted its holdings in U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 231 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 242 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in U.S. Bancorp by 5.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 252 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial cut their price objective on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Citigroup cut their price target on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Finally, Evercore ISI boosted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $50.72.

U.S. Bancorp Trading Down 2.8%

Shares of USB stock opened at $42.93 on Friday. The stock has a market capitalization of $66.88 billion, a PE ratio of 11.33, a P/E/G ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The business has a 50-day moving average of $41.74 and a 200 day moving average of $45.12. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the prior year, the business posted $0.78 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

About U.S. Bancorp

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.