Shell Asset Management Co. Reduces Position in U.S. Bancorp (NYSE:USB)

Shell Asset Management Co. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,001 shares of the financial services provider’s stock after selling 20,182 shares during the period. Shell Asset Management Co.’s holdings in U.S. Bancorp were worth $13,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Norges Bank purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $863,079,000. Maj Invest Holding A S purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $100,520,000. Madison Asset Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $125,664,000. AJO LP grew its stake in shares of U.S. Bancorp by 159,074.4% in the 4th quarter. AJO LP now owns 1,335,473 shares of the financial services provider’s stock valued at $79,179,000 after buying an additional 1,334,634 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of U.S. Bancorp by 13.3% in the 4th quarter. Fiera Capital Corp now owns 11,177,109 shares of the financial services provider’s stock valued at $662,691,000 after buying an additional 1,312,268 shares during the period. 75.57% of the stock is owned by institutional investors.

U.S. Bancorp stock traded down $0.30 during mid-day trading on Friday, reaching $32.62. 278,324 shares of the company’s stock were exchanged, compared to its average volume of 8,791,201. The company has a market cap of $49.80 billion, a P/E ratio of 8.43, a P/E/G ratio of 2.48 and a beta of 1.18. U.S. Bancorp has a twelve month low of $28.36 and a twelve month high of $61.11. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average of $34.05 and a 200-day moving average of $48.46.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.14. U.S. Bancorp had a net margin of 23.37% and a return on equity of 14.15%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 2.22 earnings per share for the current fiscal year.

Several research firms have recently weighed in on USB. Oppenheimer increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. UBS Group dropped their price target on shares of U.S. Bancorp from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Robert W. Baird raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $56.00 price target for the company in a research note on Tuesday, March 17th. Wells Fargo & Co decreased their price objective on shares of U.S. Bancorp from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Finally, Nomura Securities upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $46.00 in a report on Thursday, April 16th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $48.60.

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.

Read More: Price-Sales Ratio

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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