Carnegie Capital Asset Management LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,340 shares of the financial services provider’s stock after selling 8,184 shares during the quarter. U.S. Bancorp accounts for about 1.4% of Carnegie Capital Asset Management LLC’s holdings, making the stock its 10th biggest position. Carnegie Capital Asset Management LLC’s holdings in U.S. Bancorp were worth $18,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. Bank of Montreal Can purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $131,487,000. Bank of New York Mellon Corp boosted its stake in shares of U.S. Bancorp by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after acquiring an additional 2,071,326 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of U.S. Bancorp by 103.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 3,441,710 shares of the financial services provider’s stock worth $173,806,000 after acquiring an additional 1,751,500 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $83,658,000. Finally, BTIM Corp. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $78,408,000. 74.35% of the stock is currently owned by institutional investors.

Shares of U.S. Bancorp stock opened at $54.13 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $48.49 and a 1 year high of $58.50. The company has a market cap of $87.24 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.76 and a beta of 0.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.01. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. U.S. Bancorp’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. analysts forecast that U.S. Bancorp will post 4.07 EPS for the current fiscal year.

Several brokerages recently issued reports on USB. ValuEngine downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Wedbush restated a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $58.58.

In other U.S. Bancorp news, Vice Chairman John R. Elmore sold 58,924 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the completion of the transaction, the insider now directly owns 98,371 shares in the company, valued at approximately $5,086,764.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.43% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Recommended Story: What Factors Can Affect Return on Equity?

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.