First Quadrant L P CA Sells 243,828 Shares of U.S. Bancorp (NYSE:USB)

First Quadrant L P CA decreased its position in U.S. Bancorp (NYSE:USB) by 39.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 372,072 shares of the financial services provider’s stock after selling 243,828 shares during the period. First Quadrant L P CA’s holdings in U.S. Bancorp were worth $19,318,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of 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 last quarter. New England Asset Management Inc. increased its stake in shares of 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 last quarter. First Eagle Investment Management LLC increased its stake in shares of 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 last quarter. Legal & General Group Plc increased its stake in shares of 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 last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of U.S. Bancorp by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after buying an additional 73,504 shares during the last quarter. Institutional investors own 76.25% of the company’s stock.

U.S. Bancorp (NYSE USB) opened at 51.68 on Friday. The company’s 50 day moving average price is $52.47 and its 200 day moving average price is $52.54. The stock has a market cap of $86.45 billion, a PE ratio of 15.61 and a beta of 0.86. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue was up .7% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

U.S. Bancorp declared that its board has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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A number of brokerages have weighed in on USB. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company began coverage on U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price for the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Finally, Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $52.85.

About U.S. Bancorp

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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