Logan Capital Management Inc. Has $7.79 Million Holdings in U.S. Bancorp $USB

Logan Capital Management Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,992 shares of the financial services provider’s stock after selling 10,145 shares during the period. Logan Capital Management Inc.’s holdings in U.S. Bancorp were worth $7,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in USB. Financial Life Planners bought a new stake in U.S. Bancorp in the 3rd quarter valued at $25,000. Clayton Financial Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter valued at $25,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter worth $28,000. Binnacle Investments Inc increased its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the last quarter. Finally, Westfuller Advisors LLC increased its holdings in shares of U.S. Bancorp by 54.7% in the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 215 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on USB shares. Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Truist Financial decreased their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. 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. Finally, JPMorgan Chase & Co. decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $61.20.

Insider Buying and Selling

In related 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 directly 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 filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Up 1.5%

Shares of U.S. Bancorp stock opened at $57.66 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $55.12 and a 200-day moving average of $54.50. U.S. Bancorp has a 52-week low of $42.55 and a 52-week high of $61.19. The stock has a market cap of $89.44 billion, a PE ratio of 12.09, a PEG ratio of 1.02 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period last year, the firm earned $1.03 earnings per share. U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.09 EPS for the current 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.