U.S. Bancorp (NYSE:USB) Position Reduced by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,164 shares of the financial services provider’s stock after selling 60,052 shares during the quarter. Rafferty Asset Management LLC’s holdings in U.S. Bancorp were worth $12,210,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pitcairn Co. lifted its stake in shares of U.S. Bancorp by 8.0% in the 1st quarter. Pitcairn Co. now owns 31,319 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 2,332 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of U.S. Bancorp by 12.9% in the first quarter. Norinchukin Bank The now owns 55,967 shares of the financial services provider’s stock worth $2,882,000 after buying an additional 6,375 shares during the period. Twin Capital Management Inc. raised its holdings in shares of U.S. Bancorp by 3.8% in the first quarter. Twin Capital Management Inc. now owns 14,552 shares of the financial services provider’s stock worth $749,000 after buying an additional 527 shares during the period. AGF Investments Inc. raised its holdings in shares of U.S. Bancorp by 2.2% in the first quarter. AGF Investments Inc. now owns 433,227 shares of the financial services provider’s stock worth $22,285,000 after buying an additional 9,216 shares during the period. Finally, Quantitative Investment Management LLC purchased a new stake in shares of U.S. Bancorp in the first quarter worth approximately $36,261,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Shares of U.S. Bancorp (USB) traded up $0.73 during trading on Monday, hitting $55.63. The company had a trading volume of 6,470,141 shares, compared to its average volume of 6,081,211. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. U.S. Bancorp has a 1 year low of $49.53 and a 1 year high of $56.61. The stock has a market cap of $91,106.05, a price-to-earnings ratio of 16.29, a PEG ratio of 2.14 and a beta of 0.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the previous year, the business earned $0.84 EPS. U.S. Bancorp’s revenue for the quarter was up 4.1% compared to the same quarter last year. sell-side analysts anticipate that U.S. Bancorp will post 3.43 earnings per share for the current fiscal year.

USB has been the topic of several research reports. Jefferies Group restated a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, August 11th. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Robert W. Baird restated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, October 6th. Oppenheimer reiterated a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Finally, 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 price target on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.20.

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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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