Bridges Investment Management Inc Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Bridges Investment Management Inc reduced its stake in U.S. Bancorp by 1.91% during the most recent quarter end. The investment management company now holds a total of 68,747 shares of U.S. Bancorp which is valued at $2,976,745 after selling 1,336 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.U.S. Bancorp makes up approximately 0.52% of Bridges Investment Management Inc’s portfolio.

U.S. Bancorp opened for trading at $43.38 and hit $43.94 on the upside on Wednesday, eventually ending the session at $43.53, with a gain of 0.37% or 0.16 points. The heightened volatility saw the trading volume jump to 96,86,585 shares. Company has a market cap of $75,625 M.

Other Hedge Funds, Including , Empirical Financial Services boosted its stake in USB in the latest quarter, The investment management firm added 139 additional shares and now holds a total of 9,846 shares of U.S. Bancorp which is valued at $426,332. U.S. Bancorp makes up approx 0.10% of Empirical Financial Services’s portfolio.Kanaly Trust Co reduced its stake in USB by selling 1,379 shares or 79.66% in the most recent quarter. The Hedge Fund company now holds 352 shares of USB which is valued at $14,467.Exxonmobil Investment Management Inc Tx boosted its stake in USB in the latest quarter, The investment management firm added 29,074 additional shares and now holds a total of 397,614 shares of U.S. Bancorp which is valued at $16,341,935. U.S. Bancorp makes up approx 0.37% of Exxonmobil Investment Management Inc Tx’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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