State Street Corp Buys 522,368 Shares of U.S. Bancorp $USB

State Street Corp boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,701,898 shares of the financial services provider’s stock after purchasing an additional 522,368 shares during the period. State Street Corp’s holdings in U.S. Bancorp were worth $3,755,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Brighton Jones LLC lifted its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC lifted its position in U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC lifted its position in U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC bought a new position in U.S. Bancorp during the second quarter valued at approximately $425,000. Finally, Nebula Research & Development LLC bought a new position in U.S. Bancorp during the second quarter valued at approximately $701,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.2%

Shares of USB stock opened at $58.90 on Friday. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. The stock has a market cap of $91.37 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $55.25 and a two-hundred day simple moving average of $54.53.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during 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 firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. On average, research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Barclays increased their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.20.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on 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 completion of the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

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.