U.S. Bancorp (USB) Shares Sold by Boston Private Wealth LLC

Boston Private Wealth LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 23.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,117 shares of the financial services provider’s stock after selling 31,037 shares during the quarter. Boston Private Wealth LLC’s holdings in U.S. Bancorp were worth $5,259,000 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 U.S. Bancorp by 6.7% during the first quarter. Mitchell Sinkler & Starr PA now owns 10,455 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 655 shares during the period. Trust Department MB Financial Bank N A grew its holdings in U.S. Bancorp by 3.6% during 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 purchasing an additional 147 shares during the period. Finally, Middleton & Co Inc MA grew its holdings in U.S. Bancorp by 31.1% during 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 purchasing an additional 21,480 shares during the period. 74.21% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp (NYSE:USB) traded up 0.33% during mid-day trading on Friday, hitting $51.81. The company had a trading volume of 6,146,008 shares. The stock has a market capitalization of $86.67 billion, a PE ratio of 15.65 and a beta of 0.87. The stock has a 50 day moving average price of $52.00 and a 200-day moving average price of $52.17. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post $3.44 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several equities analysts have weighed in on the company. BidaskClub lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company initiated 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. Robert W. Baird restated a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC restated a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, August 11th. 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 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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