Mcrae Capital Management Inc Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Mcrae Capital Management Inc reduced its stake in U.S. Bancorp by 0.37% during the most recent quarter end. The investment management company now holds a total of 203,270 shares of U.S. Bancorp which is valued at $8,563,765 after selling 750 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 3.81% of Mcrae Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Mizuho Trust Banking Ltd. reduced its stake in USB by selling 13,676 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 2,820,556 shares of USB which is valued at $118,830,024. U.S. Bancorp makes up approx 0.35% of Mizuho Trust Banking Ltd.’s portfolio.Manitou Investment Management Ltd. boosted its stake in USB in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 136,385 shares of U.S. Bancorp which is valued at $5,751,355. U.S. Bancorp makes up approx 1.77% of Manitou Investment Management Ltd.’s portfolio.Clarkston Capital Partners boosted its stake in USB in the latest quarter, The investment management firm added 16,525 additional shares and now holds a total of 418,182 shares of U.S. Bancorp which is valued at $17,643,099. U.S. Bancorp makes up approx 0.88% of Clarkston Capital 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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