Forester Capital Management Ltd Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Forester Capital Management Ltd reduced its stake in U.S. Bancorp by 0.56% during the most recent quarter end. The investment management company now holds a total of 111,051 shares of U.S. Bancorp which is valued at $4.6 Million after selling 630 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on May 13, 2016.U.S. Bancorp makes up approximately 4.27% of Forester Capital Management Ltd’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in USB by selling 445,600 shares or 7.09% in the most recent quarter. The Hedge Fund company now holds 5,840,712 shares of USB which is valued at $242 Million. U.S. Bancorp makes up approx 0.29% of Ubs Asset Management Americas Inc’s portfolio.Gamble Jones Investment Counsel boosted its stake in USB in the latest quarter, The investment management firm added 5,035 additional shares and now holds a total of 14,114 shares of U.S. Bancorp which is valued at $589,683. U.S. Bancorp makes up approx 0.07% of Gamble Jones Investment Counsel’s portfolio.

U.S. Bancorp opened for trading at $42.58 and hit $43.23 on the upside on Wednesday, eventually ending the session at $42.96, with a gain of 1.61% or 0.68 points. The heightened volatility saw the trading volume jump to 78,07,950 shares. Company has a market cap of $74,166 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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