U.S. Bancorp (USB) : Cornerstone Investment Partners reduced its stake in U.S. Bancorp by 15.01% during the most recent quarter end. The investment management company now holds a total of 2,024,244 shares of U.S. Bancorp which is valued at $86,799,583 after selling 357,410 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.U.S. Bancorp makes up approximately 3.83% of Cornerstone Investment Partners’s portfolio.
Other Hedge Funds, Including , Prospera Financial Services Inc added USB to its portfolio by purchasing 4,867 company shares during the most recent quarter which is valued at $210,692. U.S. Bancorp makes up approx 0.04% of Prospera Financial Services Inc’s portfolio.Pacwest Financial Management Inc reduced its stake in USB by selling 1,310 shares or 2.58% in the most recent quarter. The Hedge Fund company now holds 49,394 shares of USB which is valued at $2,163,457. U.S. Bancorp makes up approx 1.33% of Pacwest Financial Management Inc’s portfolio.Cullinan Associates Inc boosted its stake in USB in the latest quarter, The investment management firm added 365 additional shares and now holds a total of 241,500 shares of U.S. Bancorp which is valued at $10,541,475. U.S. Bancorp makes up approx 0.91% of Cullinan Associates Inc’s portfolio.
U.S. Bancorp closed down -0.51 points or -1.16% at $43.29 with 63,34,699 shares getting traded on Tuesday. Post opening the session at $43.79, the shares hit an intraday low of $43.06 and an intraday high of $43.84 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.
Many Wall Street Analysts have commented on U.S. Bancorp. Wedbush Initiated U.S. Bancorp on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $46.
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.