Pineridge Advisors LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Pineridge Advisors LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 938 shares of the financial services provider’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. CGC Financial Services LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $27,000. Naples Money Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $30,000. Finally, Quarry LP purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $45,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE USB traded down $0.43 on Friday, reaching $38.83. The company’s stock had a trading volume of 5,121,887 shares, compared to its average volume of 7,950,724. The firm has a market cap of $60.59 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 3.78 and a beta of 1.04. The business has a 50-day moving average price of $40.73 and a 200 day moving average price of $41.66. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on USB shares. DA Davidson lowered their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group lifted their price objective on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Oppenheimer reduced their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Finally, Wells Fargo & Company reduced their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp 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.