The recent increase in U.S. Bancorp's stock price could be a positive sign for investors. However, the overall decrease over the past month and year could be concerning. The company's lower than average P/E ratio could suggest that the stock is undervalued, which could potentially make it an attractive investment. However, the P/E ratio is just one of many factors that investors should consider, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors.