Financial Partners Group LLC Lowers Holdings in U.S. Bancorp (NYSE:USB)

Financial Partners Group LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 15.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,165 shares of the financial services provider’s stock after selling 945 shares during the quarter. Financial Partners Group LLC’s holdings in U.S. Bancorp were worth $218,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in USB. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp during the fourth quarter worth about $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Millstone Evans Group LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $31,000. Finally, REAP Financial Group LLC lifted its holdings in shares of U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock valued at $31,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.1%

U.S. Bancorp stock opened at $42.68 on Wednesday. The stock has a 50-day moving average price of $41.95 and a 200 day moving average price of $44.92. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market cap of $66.49 billion, a PE ratio of 10.56, a P/E/G ratio of 1.62 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued 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. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

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 bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on USB shares. Royal Bank Of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Morgan Stanley cut their price target on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Piper Sandler reduced their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.72.

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.