Rafferty Asset Management Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Rafferty Asset Management reduced its stake in U.S. Bancorp by 20.64% during the most recent quarter end. The investment management company now holds a total of 175,450 shares of U.S. Bancorp which is valued at $7,512,769 after selling 45,619 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.U.S. Bancorp makes up approximately 0.47% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , Acrospire Investment Management reduced its stake in USB by selling 300 shares or 37.5% in the most recent quarter. The Hedge Fund company now holds 500 shares of USB which is valued at $21,470. U.S. Bancorp makes up approx 0.02% of Acrospire Investment Management’s portfolio.Sheaff Brock Investment Advisors reduced its stake in USB by selling 294 shares or 3.05% in the most recent quarter. The Hedge Fund company now holds 9,356 shares of USB which is valued at $402,027. U.S. Bancorp makes up approx 0.05% of Sheaff Brock Investment Advisors’s portfolio.Provise Management Group reduced its stake in USB by selling 1,283 shares or 3.48% in the most recent quarter. The Hedge Fund company now holds 35,584 shares of USB which is valued at $1,499,154. U.S. Bancorp makes up approx 0.27% of Provise Management Group’s portfolio.Shinko Asset Management Ltd. reduced its stake in USB by selling 130 shares or 2.84% in the most recent quarter. The Hedge Fund company now holds 4,446 shares of USB which is valued at $187,577.Bollard Group boosted its stake in USB in the latest quarter, The investment management firm added 831 additional shares and now holds a total of 145,814 shares of U.S. Bancorp which is valued at $6,151,893. U.S. Bancorp makes up approx 0.41% of Bollard Group’s portfolio.

U.S. Bancorp opened for trading at $43.08 and hit $43.38 on the upside on Wednesday, eventually ending the session at $43.22, with a gain of 0.46% or 0.2 points. The heightened volatility saw the trading volume jump to 63,47,953 shares. Company has a market cap of $73,972 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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