SVA Plumb Wealth Management LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,008 shares of the financial services provider’s stock after selling 10,722 shares during the period. U.S. Bancorp accounts for 1.0% of SVA Plumb Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. SVA Plumb Wealth Management LLC’s holdings in U.S. Bancorp were worth $7,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mitchell Sinkler & Starr PA raised its position in U.S. Bancorp by 6.7% in the first quarter. Mitchell Sinkler & Starr PA now owns 10,455 shares of the financial services provider’s stock worth $538,000 after buying an additional 655 shares during the period. WealthTrust Arizona LLC increased its stake 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 worth $156,000 after buying an additional 732 shares in the last quarter. Coastline Trust Co increased its stake 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 worth $4,018,000 after buying an additional 290 shares in the last quarter. DnB Asset Management AS increased its stake in shares of U.S. Bancorp by 11.6% in the first quarter. DnB Asset Management AS now owns 186,932 shares of the financial services provider’s stock worth $9,627,000 after buying an additional 19,500 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in shares of U.S. Bancorp by 5.3% in the first quarter. Gateway Investment Advisers LLC now owns 1,155,957 shares of the financial services provider’s stock worth $59,532,000 after buying an additional 58,666 shares in the last quarter. Institutional investors own 76.25% of the company’s stock.

Shares of U.S. Bancorp (NYSE USB) traded up 0.42% during mid-day trading on Friday, hitting $52.07. 3,130,463 shares of the stock were exchanged. The stock’s 50 day moving average is $52.40 and its 200 day moving average is $52.49. The firm has a market cap of $87.10 billion, a P/E ratio of 15.73 and a beta of 0.86. 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 posted its quarterly earnings data 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 return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback program 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 buy up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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A number of brokerages recently weighed in on USB. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target 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.

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

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