Huntington National Bank cut its position in shares of U.S. Bancorp (NYSE:USB) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,662 shares of the financial services provider’s stock after selling 96,691 shares during the period. Huntington National Bank’s holdings in U.S. Bancorp were worth $11,036,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. D. Scott Neal Inc. raised its stake in shares of U.S. Bancorp by 0.5% in the second quarter. D. Scott Neal Inc. now owns 7,590 shares of the financial services provider’s stock worth $306,000 after buying an additional 41 shares during the last quarter. Jag Capital Management LLC raised its stake in shares of U.S. Bancorp by 0.4% in the second quarter. Jag Capital Management LLC now owns 9,885 shares of the financial services provider’s stock worth $399,000 after buying an additional 43 shares during the last quarter. James Investment Research Inc. raised its stake in shares of U.S. Bancorp by 1.4% in the second quarter. James Investment Research Inc. now owns 4,055 shares of the financial services provider’s stock worth $164,000 after buying an additional 55 shares during the last quarter. Howland Capital Management LLC raised its stake in shares of U.S. Bancorp by 1.2% in the second quarter. Howland Capital Management LLC now owns 5,367 shares of the financial services provider’s stock worth $216,000 after buying an additional 65 shares during the last quarter. Finally, Country Club Trust Company n.a. raised its stake in shares of U.S. Bancorp by 0.4% in the second quarter. Country Club Trust Company n.a. now owns 18,482 shares of the financial services provider’s stock worth $745,000 after buying an additional 70 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

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

Shares of U.S. Bancorp (NYSE:USB) traded up 0.21% on Wednesday, reaching $43.38. The company’s stock had a trading volume of 2,696,463 shares. The firm’s 50 day moving average is $43.34 and its 200-day moving average is $42.08. U.S. Bancorp has a 52-week low of $37.07 and a 52-week high of $44.58. The stock has a market cap of $74.25 billion, a P/E ratio of 13.60 and a beta of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The business had revenue of $5.45 billion for the quarter. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. On average, equities research analysts forecast that U.S. Bancorp will post $3.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 annualized dividend and a yield of 2.59%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s dividend payout ratio is presently 35.00%.

A number of analysts recently commented on the company. Credit Suisse Group AG reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Tuesday, July 12th. Jefferies Group restated a “hold” rating and set a $44.00 target price on shares of U.S. Bancorp in a report on Wednesday, August 10th. Wells Fargo & Co. restated a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Finally, Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $45.21.

In other news, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total value of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares in the company, valued at $2,088,517.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total value of $4,324,362.00. Following the completion of the transaction, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.

5 Day Chart for NYSE:USB

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