Fort Point Capital Partners LLC continued to hold its position in U.S. Bancorp (NYSE:USB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,846 shares of the financial services provider’s stock at the end of the first quarter. Fort Point Capital Partners LLC’s holdings in U.S. Bancorp were worth $662,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its position 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 valued at $592,636,000 after buying an additional 152,202 shares during the period. Legal & General Group Plc increased its position 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 valued at $424,985,000 after buying an additional 231,478 shares during the period. TIAA CREF Investment Management LLC increased its position 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 valued at $358,887,000 after buying an additional 73,504 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of U.S. Bancorp by 10.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,332,879 shares of the financial services provider’s stock valued at $326,143,000 after buying an additional 592,961 shares during the period. Finally, OppenheimerFunds Inc. increased its position in shares of U.S. Bancorp by 14.1% in the first quarter. OppenheimerFunds Inc. now owns 5,604,498 shares of the financial services provider’s stock valued at $288,632,000 after buying an additional 690,530 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

U.S. Bancorp (NYSE USB) traded down 0.4007% during mid-day trading on Friday, hitting $52.1701. The company had a trading volume of 1,208,970 shares. The firm has a market cap of $87.27 billion, a P/E ratio of 15.7614 and a beta of 0.86. U.S. Bancorp has a 52-week low of $42.17 and a 52-week high of $56.61. The stock’s 50 day moving average price is $52.30 and its 200 day moving average price is $52.54.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ 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 business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the business earned $0.82 EPS. U.S. Bancorp’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

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

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a $0.28 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.14%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 33.63%.

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Several research analysts have weighed in on the company. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Wells Fargo & Company assumed coverage on U.S. Bancorp in a research note on Wednesday. They issued a “market perform” rating and a $56.00 target price on the stock. Rafferty Capital Markets downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Thursday, April 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $52.85.

In related news, Vice Chairman P.W. Parker sold 29,449 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total value of $1,529,581.06. Following the transaction, the insider now owns 307,698 shares in the company, valued at approximately $15,981,834.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by corporate insiders.

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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