Laffer Investments adds U.S. Bancorp (USB) to its portfolio

U.S. Bancorp (USB) : Laffer Investments added new position in U.S. Bancorp during the most recent quarter end. The investment management firm now holds 46,994 shares of U.S. Bancorp which is valued at $2,008,054 , the company said in a statement filed on Aug 15, 2016 with the SEC.U.S. Bancorp makes up approximately 0.63% of Laffer Investments’s portfolio.

Other Hedge Funds, Including , Arizona State Retirement System boosted its stake in USB in the latest quarter, The investment management firm added 2,900 additional shares and now holds a total of 502,343 shares of U.S. Bancorp which is valued at $21,465,116. U.S. Bancorp makes up approx 0.26% of Arizona State Retirement System’s portfolio.Highpoint Advisor Group boosted its stake in USB in the latest quarter, The investment management firm added 1,776 additional shares and now holds a total of 11,216 shares of U.S. Bancorp which is valued at $479,260. U.S. Bancorp makes up approx 0.17% of Highpoint Advisor Group’s portfolio. Harel Insurance Investments Financial Services Ltd. added USB to its portfolio by purchasing 2,620 company shares during the most recent quarter which is valued at $110,381. U.S. Bancorp makes up approx 0.01% of Harel Insurance Investments Financial Services Ltd.’s portfolio.Goelzer Investment Management reduced its stake in USB by selling 1,413 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 120,180 shares of USB which is valued at $5,070,394. U.S. Bancorp makes up approx 0.67% of Goelzer Investment Management’s portfolio.

U.S. Bancorp closed down -0.12 points or -0.27% at $44.03 with 51,95,535 shares getting traded on Thursday. Post opening the session at $44.25, the shares hit an intraday low of $43.66 and an intraday high of $44.26 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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