Inceptionr LLC Boosts Stock Position in U.S. Bancorp $USB

Inceptionr LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 424.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,614 shares of the financial services provider’s stock after acquiring an additional 22,348 shares during the quarter. Inceptionr LLC’s holdings in U.S. Bancorp were worth $1,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp raised its position in shares of U.S. Bancorp by 0.9% in the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after buying an additional 648,943 shares in the last quarter. Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after buying an additional 443,646 shares in the last quarter. Norges Bank purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth $1,887,497,000. Finally, Davis Selected Advisers raised its position in shares of U.S. Bancorp by 13.4% in the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after buying an additional 2,610,197 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on USB shares. Truist Financial lowered their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Barclays increased their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research report on Friday, April 17th. Finally, Royal Bank Of Canada increased their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

U.S. Bancorp Stock Up 1.5%

USB opened at $56.86 on Thursday. The stock has a market cap of $88.20 billion, a PE ratio of 11.92, a P/E/G ratio of 1.01 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The business’s fifty day simple moving average is $55.01 and its 200 day simple moving average is $54.43.

U.S. Bancorp (NYSE:USB) last released 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 for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

About U.S. Bancorp

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.