Covington Investment Advisors Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Covington Investment Advisors reduced its stake in U.S. Bancorp by 0.41% during the most recent quarter end. The investment management company now holds a total of 107,375 shares of U.S. Bancorp which is valued at $4.4 Million after selling 440 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on May 12, 2016.U.S. Bancorp makes up approximately 2.04% of Covington Investment Advisors’s portfolio.

Other Hedge Funds, Including , Wealth Architects boosted its stake in USB in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 4,965 shares of U.S. Bancorp which is valued at $205,700. U.S. Bancorp makes up approx 0.10% of Wealth Architects’s portfolio.Institutional Family Asset Management reduced its stake in USB by selling 81 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 44,510 shares of USB which is valued at $1.8 Million. U.S. Bancorp makes up approx 0.67% of Institutional Family Asset Management’s portfolio.Argent Trust Co reduced its stake in USB by selling 406 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 16,894 shares of USB which is valued at $699,918. U.S. Bancorp makes up approx 0.34% of Argent Trust Co’s portfolio.Massmutual Trust Co Fsbadv boosted its stake in USB in the latest quarter, The investment management firm added 36,734 additional shares and now holds a total of 62,941 shares of U.S. Bancorp which is valued at $2.6 Million. U.S. Bancorp makes up approx 0.35% of Massmutual Trust Co Fsbadv’s portfolio. Sanders Morris Harris added USB to its portfolio by purchasing 12,070 company shares during the most recent quarter which is valued at $515,268. U.S. Bancorp makes up approx 0.08% of Sanders Morris Harris’s portfolio.

U.S. Bancorp opened for trading at $41.74 and hit $42.2 on the upside on Friday, eventually ending the session at $41.74, with a gain of 0.53% or 0.22 points. The heightened volatility saw the trading volume jump to 57,81,658 shares. Company has a market cap of $72,060 M.

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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