Country Trust Bank Increased U.S. Bancorp New Common (NYSE:USB) by $20.08 Million as Shares Declined


Country Trust Bank increased its stake in U.S. Bancorp New Common (NYSE:USB) by 82300.16% based on its latest 2016Q2 regulatory filing with the SEC. Country Trust Bank bought 502,031 shares as the company’s stock declined 2.15% while stock markets rallied. The institutional investor held 502,641 shares of the major banks company at the end of 2016Q2, valued at $20.40 million, up from 610 at the end of the previous reported quarter. Country Trust Bank who had been investing in U.S. Bancorp New Common for a number of months, seems to be bullish on the $74.65 billion market cap company. The stock is down 0.12% or $0.05 hitting $43.18, despite the positive news. About 7.30M shares traded hands or 27.62% up from the average. U.S. Bancorp (NYSE:USB) has risen 10.80% since February 8, 2016 and is uptrending. It has underperformed by 5.69% the S&P500.

Country Trust Bank, which manages about $1.87B US Long portfolio, decreased its stake in Baxter International Inc. Common (NYSE:BAX) by 113,495 shares to 79,621 shares, valued at $3.27M in 2016Q2, according to the filing. It also reduced its holding in American Water Works Company (NYSE:AWK) by 96,933 shares in the quarter, leaving it with 382,538 shares, and cut its stake in Kohls Corp Common (NYSE:KSS).

The institutional sentiment decreased to 0.99 in Q2 2016. Its down 0.16, from 1.15 in 2016Q1. The ratio worsened, as 60 funds sold all USB shares owned while 406 reduced positions. 61 funds bought stakes while 401 increased positions. They now own 1.22 billion shares or 0.34% less from 1.23 billion shares in 2016Q1.

Community Bank Of Raymore holds 5.71% of its portfolio in USB for 294,282 shares. Brown Brothers Harriman & Co owns 24.77 million shares or 5.19% of their US portfolio. Moreover, Daily Journal Corp has 5.04% invested in the company for 140,000 shares. The California-based Mountain Lake Investment Management Llc has invested 4.74% in the stock. Prentiss Smith & Co Inc, a Vermont-based fund reported 197,092 shares.

Out of 15 analysts covering U.S. Bancorp (NYSE:USB), 4 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 27% are positive. U.S. Bancorp has been the topic of 25 analyst reports since October 2, 2015 according to StockzIntelligence Inc. Deutsche Bank downgraded the stock on April 26 to “Hold” rating.

U.S. Bancorp is a multi-state financial services holding company. The company has a market cap of $74.65 billion. The Company’s banking subsidiary, U.S. It has a 13.52 P/E ratio. Bank National Association, is engaged in the general banking business in domestic markets.

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