Bremer Trust National Association Decreases Holdings in U.S. Bancorp (USB)

Bremer Trust National Association reduced its stake in U.S. Bancorp (NYSE:USB) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,348 shares of the financial services provider’s stock after selling 1,073 shares during the period. Bremer Trust National Association’s holdings in U.S. Bancorp were worth $1,887,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Shelton Capital Management boosted its stake in U.S. Bancorp by 51.2% in the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after acquiring an additional 45,116 shares during the period. Investment Partners Ltd. OH ADV boosted its stake in U.S. Bancorp by 33.6% in the first quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 2,024 shares during the period. New England Asset Management Inc. boosted its stake in U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after acquiring an additional 9,150,126 shares during the period. Nelson Roberts Investment Advisors LLC boosted its stake in U.S. Bancorp by 0.3% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock valued at $6,198,000 after acquiring an additional 320 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in U.S. Bancorp by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock valued at $358,887,000 after acquiring an additional 73,504 shares during the period. Institutional investors own 74.21% of the company’s stock.

USB has been the subject of a number of research reports. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC restated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Robert W. Baird reiterated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.50.

Shares of U.S. Bancorp (USB) traded up 0.33% during midday trading on Friday, reaching $51.81. The company had a trading volume of 6,146,008 shares. The company has a market capitalization of $86.67 billion, a P/E ratio of 15.65 and a beta of 0.87. The firm’s 50 day moving average price is $52.00 and its 200-day moving average price is $52.17. 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 released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 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 analysts’ expectations of $5.46 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. U.S. Bancorp’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.

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

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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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