Warren Averett Asset Management LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,868 shares of the financial services provider’s stock after selling 1,622 shares during the period. Warren Averett Asset Management LLC’s holdings in U.S. Bancorp were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its position in U.S. Bancorp by 1.2% during the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after purchasing an additional 903,504 shares during the period. New England Asset Management Inc. raised its position in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares during the period. US Bancorp DE raised its position in U.S. Bancorp by 1.9% during the second quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock valued at $735,074,000 after purchasing an additional 259,093 shares during the period. First Eagle Investment Management LLC raised its position in U.S. Bancorp by 1.3% during 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 purchasing an additional 152,202 shares during the period. Finally, Legal & General Group Plc raised its position in U.S. Bancorp by 2.9% during the first quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock valued at $424,985,000 after purchasing an additional 231,478 shares during the period. Institutional investors and hedge funds own 74.21% of the company’s stock.

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A number of equities research analysts have issued reports on USB shares. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Robert W. Baird restated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, July 20th. Finally, Jefferies Group LLC restated a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.50.

U.S. Bancorp (USB) opened at 51.81 on Friday. The stock has a market capitalization of $86.67 billion, a P/E ratio of 15.65 and a beta of 0.87. The firm’s 50-day moving average price is $52.00 and its 200 day moving average price is $52.17. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61.

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

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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.

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

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