Somerset Group Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Somerset Group reduced its stake in U.S. Bancorp by 0.7% during the most recent quarter end. The investment management company now holds a total of 283,397 shares of U.S. Bancorp which is valued at $12,271,090 after selling 2,000 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.U.S. Bancorp makes up approximately 12.87% of Somerset Group’s portfolio.

U.S. Bancorp opened for trading at $42.7 and hit $43.43 on the upside on Friday, eventually ending the session at $43.3, with a gain of 1.74% or 0.74 points. The heightened volatility saw the trading volume jump to 92,62,160 shares. Company has a market cap of $75,226 M.

Other Hedge Funds, Including , Private Trust Co Na boosted its stake in USB in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 60,050 shares of U.S. Bancorp which is valued at $2,600,165. U.S. Bancorp makes up approx 0.69% of Private Trust Co Na’s portfolio.Stillwater Capital Advisors reduced its stake in USB by selling 754 shares or 0.34% in the most recent quarter. The Hedge Fund company now holds 221,293 shares of USB which is valued at $9,095,142. U.S. Bancorp makes up approx 2.64% of Stillwater Capital Advisors’s portfolio.Capstone Asset Management Co reduced its stake in USB by selling 5,591 shares or 4.24% in the most recent quarter. The Hedge Fund company now holds 126,268 shares of USB which is valued at $5,189,615. U.S. Bancorp makes up approx 0.15% of Capstone Asset Management Co’s portfolio.Atlas Browninc. reduced its stake in USB by selling 56 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 11,287 shares of USB which is valued at $463,896. U.S. Bancorp makes up approx 0.20% of Atlas Browninc.’s portfolio.Creative Planning reduced its stake in USB by selling 1,268 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 214,759 shares of USB which is valued at $8,489,423. U.S. Bancorp makes up approx 0.07% of Creative Planning’s portfolio.

On the company’s financial health, U.S. Bancorp reported $0.76 EPS for the quarter, based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus estimate of $0.76. The company had revenue of $5037.00 million for the quarter, compared to analysts expectations of $5071.11 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on U.S. Bancorp. Shares were Reiterated by Compass Point on Apr 21, 2016 to “Neutral” and Lowered the Price Target to $ 46 from a previous price target of $48 .Shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Neutral” and Lowered the Price Target to $ 42 from a previous price target of $45 .U.S. Bancorp was Downgraded by Guggenheim to ” Neutral” on Apr 6, 2016.

U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary U.S. Bank National Association is engaged in the general banking business in domestic markets. The Company provides a 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 machines (ATM) processing mortgage banking insurance brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals businesses institutional organizations governmental entities and other financial institutions. Its commercial and consumer lending services are offered to customers within the Company’s domestic markets to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company.

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