Somerset Group Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Somerset Group reduced its stake in U.S. Bancorp by 0.04% during the most recent quarter end. The investment management company now holds a total of 283,285 shares of U.S. Bancorp which is valued at $12,164,258 after selling 112 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 12.26% of Somerset Group’s portfolio.

Other Hedge Funds, Including , Heathbridge Capital Management Ltd. reduced its stake in USB by selling 500 shares or 6.33% in the most recent quarter. The Hedge Fund company now holds 7,400 shares of USB which is valued at $316,868. U.S. Bancorp makes up approx 0.08% of Heathbridge Capital Management Ltd.’s portfolio.Wendell David Associates Inc reduced its stake in USB by selling 2,700 shares or 2.98% in the most recent quarter. The Hedge Fund company now holds 87,824 shares of USB which is valued at $3,685,973. U.S. Bancorp makes up approx 0.71% of Wendell David Associates Inc’s portfolio.Davis R M Inc boosted its stake in USB in the latest quarter, The investment management firm added 1,294 additional shares and now holds a total of 659,147 shares of U.S. Bancorp which is valued at $27,605,076. U.S. Bancorp makes up approx 1.32% of Davis R M Inc’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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