Equity Investment Corp grew its position in shares of U.S. Bancorp (NYSE:USB) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,151,721 shares of the financial services provider’s stock after buying an additional 3,201 shares during the quarter. U.S. Bancorp makes up about 3.5% of Equity Investment Corp’s investment portfolio, making the stock its 6th largest holding. Equity Investment Corp owned approximately 0.13% of U.S. Bancorp worth $103,691,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in U.S. Bancorp in the 4th quarter worth approximately $723,318,000. Oregon Public Employees Retirement Fund increased its position in U.S. Bancorp by 4,346.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,619,515 shares of the financial services provider’s stock worth $167,000 after buying an additional 7,448,158 shares during the period. FMR LLC increased its position in U.S. Bancorp by 12.9% in the 4th quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock worth $1,259,651,000 after buying an additional 3,143,660 shares during the period. Confluence Investment Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth approximately $81,175,000. Finally, Alecta Pensionsforsakring Omsesidigt increased its position in shares of U.S. Bancorp by 31.4% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,440,000 shares of the financial services provider’s stock valued at $262,045,000 after purchasing an additional 1,300,000 shares during the period. Institutional investors and hedge funds own 74.66% of the company’s stock.
In related news, Vice Chairman James B. Kelligrew sold 20,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the completion of the sale, the insider now directly owns 49,495 shares of the company’s stock, valued at approximately $2,504,941.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The disclosure for this sale can be found here. Insiders sold 37,233 shares of company stock valued at $1,907,734 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
U.S. Bancorp stock traded down $0.07 on Friday, reaching $52.62. The company’s stock had a trading volume of 5,403,703 shares, compared to its average volume of 6,140,936. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $83.89 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.76 and a beta of 1.08. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $55.56.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.00. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that U.S. Bancorp will post 4.29 earnings per share for the current year.
USB has been the topic of a number of analyst reports. Oppenheimer upped their price target on U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.33.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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