Trust Co cut its position in shares of U.S. Bancorp (NYSE:USB) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,820 shares of the financial services provider’s stock after selling 4,108 shares during the quarter. Trust Co’s holdings in U.S. Bancorp were worth $2,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hudock Capital Group LLC raised its position in U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 16 shares during the period. BSW Wealth Partners raised its position in U.S. Bancorp by 0.6% in the first quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 23 shares during the period. D. Scott Neal Inc. raised its position in U.S. Bancorp by 0.5% in the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 36 shares during the period. Green Square Capital LLC raised its position in U.S. Bancorp by 0.4% in the first quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 41 shares during the period. Finally, Smith Moore & CO. raised its position in U.S. Bancorp by 0.4% in the first quarter. Smith Moore & CO. now owns 13,586 shares of the financial services provider’s stock worth $700,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 74.21% of the company’s stock.

Shares of U.S. Bancorp (NYSE USB) traded up 0.33% during midday trading on Friday, hitting $51.81. 6,146,008 shares of the stock were exchanged. The company has a market capitalization of $86.67 billion, a P/E ratio of 15.65 and a beta of 0.87. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61. The firm has a 50-day moving average of $52.00 and a 200-day moving average of $52.17.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping 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 company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. U.S. Bancorp’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post $3.44 EPS for the current year.

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

Several analysts have commented on USB shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. 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 research report on Thursday, July 20th. Finally, Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.50.

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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.

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

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