Texas Permanent School Fund Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Texas Permanent School Fund reduced its stake in U.S. Bancorp by 6.59% during the most recent quarter end. The investment management company now holds a total of 526,510 shares of U.S. Bancorp which is valued at $22,497,772 after selling 37,151 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.U.S. Bancorp makes up approximately 0.29% of Texas Permanent School Fund’s portfolio.

Other Hedge Funds, Including , South Dakota Investment Council boosted its stake in USB in the latest quarter, The investment management firm added 8,650 additional shares and now holds a total of 1,800,973 shares of U.S. Bancorp which is valued at $76,955,576. U.S. Bancorp makes up approx 1.61% of South Dakota Investment Council’s portfolio.Connable Office Inc reduced its stake in USB by selling 2,327 shares or 3.07% in the most recent quarter. The Hedge Fund company now holds 73,519 shares of USB which is valued at $3,159,111. U.S. Bancorp makes up approx 0.85% of Connable Office Inc’s portfolio.Everett Harris Co Ca boosted its stake in USB in the latest quarter, The investment management firm added 47,720 additional shares and now holds a total of 170,501 shares of U.S. Bancorp which is valued at $7,183,207. U.S. Bancorp makes up approx 0.25% of Everett Harris Co Ca’s portfolio.Sigma Planning Corp boosted its stake in USB in the latest quarter, The investment management firm added 586 additional shares and now holds a total of 7,530 shares of U.S. Bancorp which is valued at $317,691. U.S. Bancorp makes up approx 0.04% of Sigma Planning Corp’s portfolio.New York State Teachers Retirement System reduced its stake in USB by selling 149,790 shares or 4.41% in the most recent quarter. The Hedge Fund company now holds 3,247,190 shares of USB which is valued at $136,998,946. U.S. Bancorp makes up approx 0.35% of New York State Teachers Retirement System’s portfolio.

U.S. Bancorp opened for trading at $43.16 and hit $43.41 on the upside on Friday, eventually ending the session at $43.35, with a gain of 0.30% or 0.13 points. The heightened volatility saw the trading volume jump to 39,77,552 shares. Company has a market cap of $74,195 M.

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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