ZWJ Investment Counsel Inc. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 3.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 336,369 shares of the financial services provider’s stock after selling 10,636 shares during the period. U.S. Bancorp comprises approximately 1.4% of ZWJ Investment Counsel Inc.’s portfolio, making the stock its 28th largest position. ZWJ Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $17,323,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of USB. First Eagle Investment Management LLC raised its stake 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 valued at $592,636,000 after buying an additional 152,202 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of U.S. Bancorp by 10.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,332,879 shares of the financial services provider’s stock valued at $326,143,000 after buying an additional 592,961 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of U.S. Bancorp by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 5,102,074 shares of the financial services provider’s stock valued at $262,842,000 after buying an additional 61,056 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,796,505 shares of the financial services provider’s stock valued at $247,020,000 after buying an additional 21,443 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of U.S. Bancorp by 2.2% in the first quarter. Russell Investments Group Ltd. now owns 4,034,509 shares of the financial services provider’s stock valued at $207,783,000 after buying an additional 85,323 shares during the last quarter. 74.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of U.S. Bancorp (USB) traded up 1.11% during mid-day trading on Friday, hitting $51.82. 1,268,799 shares of the company traded hands. The firm has a 50-day moving average of $52.34 and a 200-day moving average of $52.44. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The stock has a market capitalization of $86.68 billion, a price-to-earnings ratio of 15.66 and a beta of 0.86.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the firm earned $0.82 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, equities analysts predict that U.S. Bancorp will post $3.44 earnings per share for the current year.

U.S. Bancorp announced that its board has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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Several equities research analysts have issued reports on the stock. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Wells Fargo & Company assumed 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 price target on the stock. Finally, Argus upgraded 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. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.85.

About U.S. Bancorp

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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