Ironwood Investment Counsel Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Ironwood Investment Counsel reduced its stake in U.S. Bancorp by 16.06% during the most recent quarter end. The investment management company now holds a total of 59,421 shares of U.S. Bancorp which is valued at $2,539,059 after selling 11,368 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.U.S. Bancorp makes up approximately 1.45% of Ironwood Investment Counsel’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in USB by selling 638,132 shares or 2.98% in the most recent quarter. The Hedge Fund company now holds 20,744,771 shares of USB which is valued at $886,424,065. U.S. Bancorp makes up approx 0.19% of Blackrock Fund Advisors’s portfolio.Essex Financial Services reduced its stake in USB by selling 1,300 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 113,095 shares of USB which is valued at $4,769,216. U.S. Bancorp makes up approx 1.12% of Essex Financial Services’s portfolio.Diversified Trust Co reduced its stake in USB by selling 2,744 shares or 4.03% in the most recent quarter. The Hedge Fund company now holds 65,401 shares of USB which is valued at $2,747,496. U.S. Bancorp makes up approx 0.37% of Diversified Trust Co’s portfolio.Conning reduced its stake in USB by selling 10,090 shares or 14.45% in the most recent quarter. The Hedge Fund company now holds 59,743 shares of USB which is valued at $2,509,803. U.S. Bancorp makes up approx 0.10% of Conning’s portfolio.Leavell Investment Management reduced its stake in USB by selling 9,500 shares or 11.16% in the most recent quarter. The Hedge Fund company now holds 75,616 shares of USB which is valued at $3,173,604. U.S. Bancorp makes up approx 0.46% of Leavell Investment Management’s portfolio.

U.S. Bancorp opened for trading at $43.16 and hit $43.41 on the upside on Friday, eventually ending the session at $43.35, with a gain of 0.30% or 0.13 points. The heightened volatility saw the trading volume jump to 39,77,552 shares. Company has a market cap of $74,195 M.

On the company’s financial health, U.S. Bancorp reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $0.80. The company had revenue of $5448.00 million for the quarter, compared to analysts expectations of $5208.03 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary U.S. Bank National Association is engaged in the general banking business in domestic markets. The Company provides a 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 machines (ATM) processing mortgage banking insurance brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals businesses institutional organizations governmental entities and other financial institutions. Its commercial and consumer lending services are offered to customers within the Company’s domestic markets to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company.

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