B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund Has $1.96 Million Stake in U.S. Bancorp (USB)

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund trimmed its position in U.S. Bancorp (NYSE:USB) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,997 shares of the financial services provider’s stock after selling 3,085 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in U.S. Bancorp were worth $1,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of U.S. Bancorp by 1.2% in the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after purchasing an additional 903,504 shares in the last quarter. New England Asset Management Inc. raised its holdings in shares of U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of U.S. Bancorp by 1.3% in the 1st quarter. First Eagle Investment Management LLC now owns 11,507,504 shares of the financial services provider’s stock valued at $592,636,000 after purchasing an additional 152,202 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of U.S. Bancorp by 2.9% in the 1st quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock valued at $424,985,000 after purchasing an additional 231,478 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of U.S. Bancorp by 1.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock valued at $358,887,000 after purchasing an additional 73,504 shares in the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.

USB has been the topic of a number of analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, August 11th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Robert W. Baird restated a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $52.50.

Shares of U.S. Bancorp (NYSE USB) traded up 1.87% on Tuesday, reaching $51.83. 1,780,774 shares of the company’s stock traded hands. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61. The company has a 50 day moving average of $52.14 and a 200-day moving average of $52.23. The stock has a market capitalization of $86.70 billion, a PE ratio of 15.66 and a beta of 0.87.

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

U.S. Bancorp announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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U.S. Bancorp 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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