Hutchinson Capital Management CA bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the first quarter, HoldingsChannel reports. The institutional investor bought 143,684 shares of the financial services provider’s stock, valued at approximately $6,924,000. U.S. Bancorp comprises about 2.1% of Hutchinson Capital Management CA’s investment portfolio, making the stock its 26th biggest position.
Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $723,318,000. Oregon Public Employees Retirement Fund increased its stake in U.S. Bancorp by 4,346.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,619,515 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 7,448,158 shares in the last quarter. FMR LLC increased its stake in U.S. Bancorp by 12.9% during the 4th quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock valued at $1,259,651,000 after purchasing an additional 3,143,660 shares in the last quarter. Confluence Investment Management LLC acquired a new position in U.S. Bancorp during the 1st quarter valued at approximately $81,175,000. Finally, Morgan Stanley increased its stake in U.S. Bancorp by 32.7% during the 3rd quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock valued at $290,793,000 after purchasing an additional 1,358,026 shares in the last quarter. 75.98% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on USB shares. Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research note on Monday, January 28th. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Finally, Oppenheimer increased their price objective on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $58.33.
NYSE:USB opened at $51.56 on Monday. The firm has a market capitalization of $82.09 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $55.56. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. Research analysts predict that U.S. Bancorp will post 4.29 EPS for the current fiscal year.
In related news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total transaction of $647,422.92. Following the sale, the insider now owns 39,330 shares in the company, valued at $2,026,674.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the sale, the insider now owns 49,495 shares in the company, valued at approximately $2,504,941.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,233 shares of company stock worth $1,907,734. 0.24% of the stock is owned by company insiders.
U.S. Bancorp Profile
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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