Equity Investment Corpga Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Equity Investment Corpga reduced its stake in U.S. Bancorp by 4.12% during the most recent quarter end. The investment management company now holds a total of 2,805,981 shares of U.S. Bancorp which is valued at $118,215,980 after selling 120,445 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.U.S. Bancorp makes up approximately 3.55% of Equity Investment Corpga’s portfolio.

Other Hedge Funds, Including , World Asset Management Inc boosted its stake in USB in the latest quarter, The investment management firm added 876 additional shares and now holds a total of 162,639 shares of U.S. Bancorp which is valued at $6,851,981. U.S. Bancorp makes up approx 0.26% of World Asset Management Inc’s portfolio.Kornitzer Capital Management Inc Ks boosted its stake in USB in the latest quarter, The investment management firm added 1,375 additional shares and now holds a total of 8,275 shares of U.S. Bancorp which is valued at $348,957. U.S. Bancorp makes up approx 0.01% of Kornitzer Capital Management Inc Ks’s portfolio.Dividend Assets Capital reduced its stake in USB by selling 1,800 shares or 18.15% in the most recent quarter. The Hedge Fund company now holds 8,115 shares of USB which is valued at $340,911. U.S. Bancorp makes up approx 0.01% of Dividend Assets Capital’s portfolio.Pennsylvania Trust Co boosted its stake in USB in the latest quarter, The investment management firm added 8,760 additional shares and now holds a total of 216,460 shares of U.S. Bancorp which is valued at $9,084,826. U.S. Bancorp makes up approx 0.72% of Pennsylvania Trust Co’s portfolio.Saddle Road Partners boosted its stake in USB in the latest quarter, The investment management firm added 22,160 additional shares and now holds a total of 125,220 shares of U.S. Bancorp which is valued at $5,087,689. U.S. Bancorp makes up approx 2.97% of Saddle Road Partners’s portfolio.

U.S. Bancorp closed down -0.03 points or -0.07% at $42.94 with 44,61,190 shares getting traded on Monday. Post opening the session at $42.99, the shares hit an intraday low of $42.86 and an intraday high of $43.15 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

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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