First Premier Bank Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : First Premier Bank reduced its stake in U.S. Bancorp by 12.81% during the most recent quarter end. The investment management company now holds a total of 85,228 shares of U.S. Bancorp which is valued at $3,654,577 after selling 12,522 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.U.S. Bancorp makes up approximately 2.80% of First Premier Bank’s portfolio.

Other Hedge Funds, Including , Contravisory Investment Management sold out all of its stake in USB during the most recent quarter. The investment firm sold 47 shares of USB which is valued $2,059.First Mercantile Trust Co boosted its stake in USB in the latest quarter, The investment management firm added 1,169 additional shares and now holds a total of 106,424 shares of U.S. Bancorp which is valued at $4,650,729. U.S. Bancorp makes up approx 0.62% of First Mercantile Trust Co’s portfolio.Lynch Associatesin reduced its stake in USB by selling 225 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 75,538 shares of USB which is valued at $3,297,234. U.S. Bancorp makes up approx 1.46% of Lynch Associatesin’s portfolio.

U.S. Bancorp closed down -0.51 points or -1.16% at $43.29 with 63,34,699 shares getting traded on Tuesday. Post opening the session at $43.79, the shares hit an intraday low of $43.06 and an intraday high of $43.84 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, U.S. Bancorp reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $0.80. The company had revenue of $5448.00 million for the quarter, compared to analysts expectations of $5208.03 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

Many Wall Street Analysts have commented on U.S. Bancorp. Wedbush Initiated U.S. Bancorp on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $46.

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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