Panagora Asset Management Inc. Raises Stock Holdings in U.S. Bancorp $USB

Panagora Asset Management Inc. lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 43.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 979,043 shares of the financial services provider’s stock after purchasing an additional 295,069 shares during the quarter. Panagora Asset Management Inc.’s holdings in U.S. Bancorp were worth $52,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MML Investors Services LLC grew its holdings in shares of U.S. Bancorp by 0.4% during the fourth quarter. MML Investors Services LLC now owns 767,801 shares of the financial services provider’s stock worth $40,970,000 after purchasing an additional 3,009 shares in the last quarter. Mariner LLC grew its holdings in shares of U.S. Bancorp by 32.5% during the fourth quarter. Mariner LLC now owns 716,119 shares of the financial services provider’s stock worth $38,242,000 after purchasing an additional 175,471 shares in the last quarter. FJ Capital Management LLC grew its holdings in shares of U.S. Bancorp by 7.3% during the fourth quarter. FJ Capital Management LLC now owns 373,433 shares of the financial services provider’s stock worth $19,926,000 after purchasing an additional 25,507 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of U.S. Bancorp by 70.1% during the fourth quarter. Focus Partners Wealth now owns 817,315 shares of the financial services provider’s stock worth $43,606,000 after purchasing an additional 336,835 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of U.S. Bancorp by 325.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,601,449 shares of the financial services provider’s stock worth $85,453,000 after purchasing an additional 1,224,845 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 2.0%

Shares of USB opened at $57.78 on Tuesday. The firm has a market cap of $89.63 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.07 and a beta of 0.97. The stock has a 50 day simple moving average of $55.34 and a two-hundred day simple moving average of $54.64. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.U.S. Bancorp’s revenue for the quarter 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. On average, analysts forecast that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% 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

Several research analysts have recently commented on USB shares. Truist Financial cut their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. Oppenheimer boosted their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Barclays boosted their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Stephens started coverage on U.S. Bancorp in a report on Monday. They set an “equal weight” rating and a $63.00 price objective for the company. Finally, Jefferies Financial Group reissued a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.29.

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.