Commerce Bank Sells 17,823 Shares of U.S. Bancorp (NYSE:USB)

Commerce Bank trimmed its stake in U.S. Bancorp (NYSE:USB) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 518,928 shares of the financial services provider’s stock after selling 17,823 shares during the period. Commerce Bank’s holdings in U.S. Bancorp were worth $17,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Carnegie Capital Asset Management LLC grew its stake in U.S. Bancorp by 4.0% in the 1st quarter. Carnegie Capital Asset Management LLC now owns 337,886 shares of the financial services provider’s stock worth $11,658,000 after buying an additional 13,086 shares in the last quarter. EagleClaw Capital Managment LLC lifted its holdings in shares of U.S. Bancorp by 5.5% during the 1st quarter. EagleClaw Capital Managment LLC now owns 6,711 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 350 shares during the last quarter. Renaissance Investment Group LLC grew its position in U.S. Bancorp by 0.5% in the first quarter. Renaissance Investment Group LLC now owns 109,863 shares of the financial services provider’s stock worth $3,785,000 after acquiring an additional 585 shares in the last quarter. Summitry LLC increased its stake in U.S. Bancorp by 6.1% in the first quarter. Summitry LLC now owns 44,364 shares of the financial services provider’s stock valued at $1,528,000 after acquiring an additional 2,557 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of U.S. Bancorp by 2.8% during the 1st quarter. Fiera Capital Corp now owns 11,486,782 shares of the financial services provider’s stock valued at $395,717,000 after buying an additional 309,673 shares in the last quarter. 75.57% of the stock is currently owned by institutional investors and hedge funds.

NYSE:USB traded down $0.53 during trading hours on Friday, reaching $32.39. 55,003 shares of the company traded hands, compared to its average volume of 8,791,201. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $34.05 and its two-hundred day moving average price is $48.46. U.S. Bancorp has a 1 year low of $28.36 and a 1 year high of $61.11. The stock has a market capitalization of $49.80 billion, a P/E ratio of 8.53, a P/E/G ratio of 2.48 and a beta of 1.18.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.57 billion. U.S. Bancorp had a return on equity of 14.15% and a net margin of 23.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 2.22 EPS for the current year.

A number of research firms have recently weighed in on USB. Compass Point dropped their price objective on U.S. Bancorp from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Citigroup dropped their price target on U.S. Bancorp from $62.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Royal Bank of Canada reissued a “buy” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, April 8th. Robert W. Baird upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $56.00 price objective for the company in a report on Tuesday, March 17th. Finally, Barclays reaffirmed a “buy” rating and set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 9th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $48.60.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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