HighPoint Advisor Group LLC Purchases New Position in U.S. Bancorp (NYSE:USB)

HighPoint Advisor Group LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 30,145 shares of the financial services provider’s stock, valued at approximately $1,313,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $827,370,000. Aristotle Capital Management LLC grew its position in shares of U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after purchasing an additional 17,066,479 shares during the last quarter. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the last quarter. Boston Partners bought a new stake in U.S. Bancorp in the 4th quarter valued at $154,517,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after buying an additional 2,598,163 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on USB shares. JPMorgan Chase & Co. cut their target price on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group upped their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Wells Fargo & Company cut their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. DA Davidson cut their price objective 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of U.S. Bancorp in a research report on Thursday, May 16th. Fifteen 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 an average price target of $46.02.

U.S. Bancorp Trading Up 0.2 %

Shares of USB traded up $0.08 on Tuesday, hitting $39.17. 301,194 shares of the stock traded hands, compared to its average volume of 8,292,205. The firm has a market capitalization of $61.12 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.74 and a beta of 1.05. The stock’s 50 day moving average is $40.64 and its two-hundred day moving average is $41.72. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

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

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.