BB&T Securities LLC Reduces Position in U.S. Bancorp (USB)

BB&T Securities LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 25.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 195,884 shares of the financial services provider’s stock after selling 65,998 shares during the quarter. BB&T Securities LLC’s holdings in U.S. Bancorp were worth $10,087,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of USB. Coastline Trust Co grew its holdings in shares of U.S. Bancorp by 0.4% in the first quarter. Coastline Trust Co now owns 78,015 shares of the financial services provider’s stock valued at $4,018,000 after acquiring an additional 290 shares in the last quarter. WealthTrust Arizona LLC grew its holdings in shares of U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 732 shares in the last quarter. Mitchell Sinkler & Starr PA grew its holdings in shares of U.S. Bancorp by 6.7% in the first quarter. Mitchell Sinkler & Starr PA now owns 10,455 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 655 shares in the last quarter. Trust Department MB Financial Bank N A grew its holdings in shares of U.S. Bancorp by 3.6% in the first quarter. Trust Department MB Financial Bank N A now owns 4,228 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 147 shares in the last quarter. Finally, Middleton & Co Inc MA grew its holdings in shares of U.S. Bancorp by 31.1% in the first quarter. Middleton & Co Inc MA now owns 90,442 shares of the financial services provider’s stock valued at $4,658,000 after acquiring an additional 21,480 shares in the last quarter. 74.21% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp (NYSE:USB) traded up 0.33% on Friday, reaching $51.81. The company had a trading volume of 6,146,008 shares. The stock’s 50 day moving average price is $52.00 and its 200-day moving average price is $52.17. The stock has a market capitalization of $86.67 billion, a PE ratio of 15.65 and a beta of 0.87. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. Equities analysts expect that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several equities analysts have weighed in on the company. Robert W. Baird reissued a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Tuesday, September 5th. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, August 11th. 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 objective for the company. Finally, Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $52.50.

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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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