Glenmede Trust Co. NA continued to hold its stake in shares of U.S. Bancorp (NYSE:USB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,428,046 shares of the financial services provider’s stock at the end of the first quarter. Glenmede Trust Co. NA owned 0.08% of U.S. Bancorp worth $73,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Shelton Capital Management increased its position in U.S. Bancorp by 51.2% in the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 45,116 shares during the last quarter. Investment Partners Ltd. OH ADV increased its position in U.S. Bancorp by 33.6% in the 1st quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 2,024 shares during the last quarter. New England Asset Management Inc. increased its position in U.S. Bancorp by 52.5% in the 1st 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 purchasing an additional 9,150,126 shares during the last quarter. Nelson Roberts Investment Advisors LLC boosted its stake in shares of U.S. Bancorp by 0.3% during the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock worth $6,198,000 after acquiring an additional 320 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of U.S. Bancorp by 1.7% during the 1st quarter. Prudential Financial Inc. now owns 2,824,398 shares of the financial services provider’s stock worth $145,457,000 after acquiring an additional 46,030 shares in the last quarter. 74.21% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on USB shares. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, August 11th. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Robert W. Baird reiterated a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $52.50.

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Shares of U.S. Bancorp (NYSE:USB) traded up 2.10% during mid-day trading on Monday, reaching $51.03. The company had a trading volume of 2,014,592 shares. The firm’s 50-day moving average is $52.14 and its 200 day moving average is $52.25. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company has a market capitalization of $85.36 billion, a price-to-earnings ratio of 15.42 and a beta of 0.87.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, equities research analysts predict 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 approved a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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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