Skandinaviska Enskilda Banken AB publ reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 273,864 shares of the financial services provider’s stock after selling 2,614 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in U.S. Bancorp were worth $14,104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in U.S. Bancorp by 1.2% in the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after buying an additional 903,504 shares in the last quarter. New England Asset Management Inc. increased its position in shares of 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 worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. First Eagle Investment Management LLC increased its position in shares of U.S. Bancorp by 1.3% in the first quarter. First Eagle Investment Management LLC now owns 11,507,504 shares of the financial services provider’s stock worth $592,636,000 after buying an additional 152,202 shares during the period. Legal & General Group Plc increased its position in shares of U.S. Bancorp by 2.9% in the first quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock worth $424,985,000 after buying an additional 231,478 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of 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 worth $358,887,000 after buying an additional 73,504 shares during the period. Hedge funds and other institutional investors own 76.25% of the company’s stock.

U.S. Bancorp (USB) traded down 0.83% during midday trading on Thursday, reaching $52.41. The company had a trading volume of 1,517,907 shares. The stock has a market capitalization of $87.67 billion, a price-to-earnings ratio of 15.83 and a beta of 0.86. The company has a 50-day moving average price of $52.48 and a 200-day moving average price of $52.55. U.S. Bancorp has a one year low of $42.17 and a one year 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 analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. On average, equities analysts expect that U.S. Bancorp will post $3.44 earnings per share for the current year.

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

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USB has been the subject of a number of analyst reports. Wells Fargo & Company downgraded U.S. Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $38.48 to $52.31 in a research report on Thursday, May 4th. They noted that the move was a valuation call. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report 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. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.85.

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.

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

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