Allen Mooney & Barnes Investment Advisors LLC Purchases 19,806 Shares of U.S. Bancorp (NYSE:USB)

Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 85.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,972 shares of the financial services provider’s stock after buying an additional 19,806 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in U.S. Bancorp were worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the 4th quarter worth about $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management bought a new position in shares of U.S. Bancorp in the fourth quarter valued at $30,000. Finally, Millstone Evans Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $31,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on USB shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Citigroup cut their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Thursday, April 3rd. Barclays dropped their price target on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Cowen initiated coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $44.21 on Thursday. The stock has a 50-day moving average price of $41.46 and a 200-day moving average price of $45.26. The company has a market cap of $68.87 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period last year, the company earned $0.78 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.