U.S. Bancorp (NYSE:USB) Shares Sold by BB&T Corp

BB&T Corp reduced its position in U.S. Bancorp (NYSE:USB) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 613,194 shares of the financial services provider’s stock after selling 9,451 shares during the period. BB&T Corp’s holdings in U.S. Bancorp were worth $31,837,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in U.S. Bancorp by 1.2% in the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock worth $3,888,995,000 after buying an additional 903,504 shares during the period. New England Asset Management Inc. raised its position in U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. US Bancorp DE raised its position in U.S. Bancorp by 1.9% in the second quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock worth $735,074,000 after buying an additional 259,093 shares during the period. First Eagle Investment Management LLC raised its position in U.S. Bancorp by 1.3% in the first quarter. First Eagle Investment Management LLC now owns 11,507,504 shares of the financial services provider’s stock worth $592,636,000 after buying an additional 152,202 shares during the period. Finally, Legal & General Group Plc raised its position in U.S. Bancorp by 2.9% in the first quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock worth $424,985,000 after buying an additional 231,478 shares during the period. 76.25% of the stock is owned by hedge funds and other institutional investors.

Shares of U.S. Bancorp (NYSE:USB) opened at 51.68 on Friday. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The stock has a market capitalization of $86.45 billion, a P/E ratio of 15.61 and a beta of 0.86. The stock has a 50 day moving average price of $52.47 and a 200 day moving average price of $52.54.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that U.S. Bancorp will post $3.44 earnings per share for the current year.

U.S. Bancorp declared that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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USB has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 9th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.85.

U.S. Bancorp Company Profile

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full 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 machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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