Summit Financial Wealth Advisors LLC decreased its position in U.S. Bancorp (NYSE:USB) by 14.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,369 shares of the financial services provider’s stock after selling 734 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Coastline Trust Co boosted its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Coastline Trust Co now owns 78,015 shares of the financial services provider’s stock valued at $4,018,000 after buying an additional 290 shares during the last quarter. WealthTrust Arizona LLC raised its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares during the period. Mitchell Sinkler & Starr PA raised its position in U.S. Bancorp by 6.7% in the first quarter. Mitchell Sinkler & Starr PA now owns 10,455 shares of the financial services provider’s stock valued at $538,000 after buying an additional 655 shares during the period. Trust Department MB Financial Bank N A raised its position in U.S. Bancorp by 3.6% in the first quarter. Trust Department MB Financial Bank N A now owns 4,228 shares of the financial services provider’s stock valued at $218,000 after buying an additional 147 shares during the period. Finally, Middleton & Co Inc MA raised its position in U.S. Bancorp by 31.1% in the first quarter. Middleton & Co Inc MA now owns 90,442 shares of the financial services provider’s stock valued at $4,658,000 after buying an additional 21,480 shares during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.

Shares of U.S. Bancorp (USB) traded down 0.39% on Thursday, hitting $51.39. The company had a trading volume of 1,404,160 shares. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company has a 50-day moving average of $52.40 and a 200 day moving average of $52.49. The stock has a market cap of $85.96 billion, a PE ratio of 15.53 and a beta of 0.86.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping 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 company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

U.S. Bancorp declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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Several equities analysts recently commented on USB shares. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $38.48 to $52.31 in a report on Thursday, May 4th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, June 9th. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Argus raised 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. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price 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.

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

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