First Midwest Bank Trust Division lowered its stake in U.S. Bancorp (NYSE:USB) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,258 shares of the financial services provider’s stock after selling 14,209 shares during the period. First Midwest Bank Trust Division’s holdings in U.S. Bancorp were worth $4,946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares during the last quarter. Orrstown Financial Services Inc. increased its stake in shares of U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after buying an additional 681 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $155,000. 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 valued at $156,000 after buying an additional 732 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in shares of U.S. Bancorp by 87.4% in the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,708 shares during the period. Hedge funds and other institutional investors own 76.25% of the company’s stock.

U.S. Bancorp (NYSE:USB) traded up 0.42% during midday trading on Friday, hitting $52.07. The stock had a trading volume of 3,130,463 shares. The firm has a 50 day moving average of $52.40 and a 200 day moving average of $52.49. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61. The firm has a market cap of $87.10 billion, a price-to-earnings ratio of 15.73 and a beta of 0.86.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS. Equities research analysts predict that U.S. Bancorp will post $3.44 EPS for the current year.

U.S. Bancorp announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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Several brokerages have recently commented on USB. BidaskClub downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price objective for the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, August 11th. Finally, Argus raised shares of 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. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. U.S. Bancorp currently has an average 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.

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

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