Jarislowsky Fraser Ltd decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,880,721 shares of the financial services provider’s stock after selling 18,432 shares during the period. Jarislowsky Fraser Ltd’s holdings in U.S. Bancorp were worth $96,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. First Eagle Investment Management LLC raised 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 valued at $592,636,000 after buying an additional 152,202 shares during the period. UBS Asset Management Americas Inc. raised its position 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 period. Ameriprise Financial Inc. raised its position 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 period. Sumitomo Mitsui Trust Holdings Inc. raised its position 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 period. Finally, Russell Investments Group Ltd. raised its position 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 period. 74.20% of the stock is owned by institutional investors.

Shares of U.S. Bancorp (USB) traded up 0.84% during mid-day trading on Friday, hitting $51.68. 3,656,465 shares of the stock were exchanged. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company has a 50-day moving average price of $52.32 and a 200-day moving average price of $52.43. The stock has a market cap of $86.45 billion, a price-to-earnings ratio of 15.61 and a beta of 0.87.

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, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations 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 revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. 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 has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

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Several research analysts recently issued reports on the stock. BidaskClub lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Wells Fargo & Company initiated 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 on the stock. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. 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 report on Thursday, July 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price 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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