Rosenbaum Jay D. Cuts Stake in U.S. Bancorp (NYSE:USB)

Rosenbaum Jay D. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 2.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,435 shares of the financial services provider’s stock after selling 455 shares during the period. U.S. Bancorp accounts for 2.1% of Rosenbaum Jay D.’s portfolio, making the stock its 20th largest position. Rosenbaum Jay D.’s holdings in U.S. Bancorp were worth $1,124,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brookmont Capital Management grew its position in shares of U.S. Bancorp by 0.5% during the second quarter. Brookmont Capital Management now owns 36,674 shares of the financial services provider’s stock worth $1,922,000 after buying an additional 195 shares in the last quarter. EagleClaw Capital Managment LLC grew its position in shares of U.S. Bancorp by 3.0% during the first quarter. EagleClaw Capital Managment LLC now owns 6,883 shares of the financial services provider’s stock worth $332,000 after buying an additional 200 shares in the last quarter. Sky Investment Group LLC grew its position in shares of U.S. Bancorp by 1.8% during the second quarter. Sky Investment Group LLC now owns 11,250 shares of the financial services provider’s stock worth $590,000 after buying an additional 200 shares in the last quarter. Culbertson A N & Co. Inc. grew its position in shares of U.S. Bancorp by 0.5% during the second quarter. Culbertson A N & Co. Inc. now owns 42,696 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 200 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of U.S. Bancorp by 0.7% during the second quarter. SeaCrest Wealth Management LLC now owns 28,512 shares of the financial services provider’s stock worth $1,494,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

U.S. Bancorp stock traded up $0.44 during mid-day trading on Thursday, reaching $51.34. The company’s stock had a trading volume of 218,200 shares, compared to its average volume of 6,377,645. The company has a market capitalization of $82.31 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06. The firm’s 50 day moving average is $54.11. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $57.81.



U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 4.31 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has initiated a share repurchase plan on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of research firms have recently weighed in on USB. Morgan Stanley raised their price target on shares of U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Bank of America raised shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $49.00 to $55.00 in a report on Thursday, July 18th. Macquarie downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective for the company. in a report on Thursday, August 1st. Deutsche Bank set a $59.00 price objective on shares of U.S. Bancorp and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $52.50 to $57.00 in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. U.S. Bancorp presently has an average rating of “Hold” and an average price target of $56.92.

In other U.S. Bancorp news, EVP Mark G. Runkel sold 10,986 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $57.32, for a total value of $629,717.52. Following the sale, the executive vice president now directly owns 45,213 shares in the company, valued at $2,591,609.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the sale, the insider now owns 65,959 shares in the company, valued at $3,781,429.47. The disclosure for this sale can be found here. Insiders sold 40,414 shares of company stock worth $2,297,215 over the last quarter. 0.24% of the stock is currently owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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