Hartland & Co. LLC Trims Holdings in U.S. Bancorp (USB)

Hartland & Co. LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,358 shares of the financial services provider’s stock after selling 431 shares during the quarter. Hartland & Co. LLC’s holdings in U.S. Bancorp were worth $379,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its stake in shares of U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 371 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in U.S. Bancorp during the first quarter worth $155,000. Tradewinds Capital Management LLC boosted its stake in U.S. Bancorp by 87.4% during the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,708 shares during the last quarter. Hudock Capital Group LLC boosted its stake in U.S. Bancorp by 0.4% during the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after buying an additional 16 shares during the last quarter. Finally, Mechanics Bank Trust Department acquired a new position in U.S. Bancorp during the first quarter worth $201,000. 74.21% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of U.S. Bancorp (NYSE:USB) traded up 0.12% during trading on Friday, hitting $51.70. The stock had a trading volume of 3,260,284 shares. The firm has a market cap of $86.48 billion, a P/E ratio of 15.62 and a beta of 0.87. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The firm’s 50-day moving average is $52.02 and its 200-day moving average is $52.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the business earned $0.82 EPS. The company’s revenue was up .7% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

A number of equities research analysts have commented on the company. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company assumed coverage on U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target on the stock. Robert W. Baird restated a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Jefferies Group LLC restated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.50.

U.S. Bancorp Company Profile

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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