Pallas Capital Advisors LLC Sells 1,807 Shares of U.S. Bancorp (NYSE:USB)

Pallas Capital Advisors LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,556 shares of the financial services provider’s stock after selling 1,807 shares during the period. Pallas Capital Advisors LLC’s holdings in U.S. Bancorp were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Empowered Funds LLC boosted its stake in U.S. Bancorp by 22.0% during the 4th quarter. Empowered Funds LLC now owns 33,697 shares of the financial services provider’s stock valued at $1,612,000 after purchasing an additional 6,079 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in U.S. Bancorp by 11.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 31,190 shares of the financial services provider’s stock valued at $1,492,000 after purchasing an additional 3,123 shares during the last quarter. Essex Financial Services Inc. boosted its stake in U.S. Bancorp by 5.9% during the 4th quarter. Essex Financial Services Inc. now owns 11,701 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 652 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter valued at $30,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on USB shares. Piper Sandler cut their price objective on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and issued a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Cowen started coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a “buy” rating for the company. Finally, DA Davidson cut their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.72.

U.S. Bancorp Stock Down 0.1%

Shares of USB opened at $44.17 on Friday. The business’s 50 day moving average is $41.61 and its 200 day moving average is $45.20. The company has a market capitalization of $68.82 billion, a PE ratio of 11.65, 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 issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the company earned $0.78 EPS. Research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

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.