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NEW YORK ( TheStreet) -- U.S. Bancorp (NYSE: USB) hit a new 52-week high Thursday as it is currently trading at $29.76, above its previous 52-week high of $29.74 with 5.9 million shares traded as of 2:30 p.m. ET. Average volume has been 12.9 million shares over the past 30 days. U.S has a market cap of $54.29 billion and is part of the financial sector and banking industry. Shares are up 8.7% year to date as of the close of trading on Wednesday. U.S. Bancorp, a financial services holding company, provides various banking and financial services in the United States. It generates various deposit products, including checking accounts, savings accounts, money market savings, and time certificates of deposit accounts. The company has a P/E ratio of 11.9, above the average banking industry P/E ratio of 11.6 and below the S&P 500 P/E ratio of 17.7.