Cullinan Associates Inc. Sells 12,300 Shares of U.S. Bancorp (USB)
Cullinan Associates Inc. lowered its holdings in U.S. Bancorp (NYSE:USB) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,562 shares of the financial services provider’s stock after selling 12,300 shares during the period. Cullinan Associates Inc.’s holdings in U.S. Bancorp were worth $9,905,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Horan Capital Management bought a new stake in U.S. Bancorp in the 2nd quarter valued at about $109,000. Integrated Investment Consultants LLC bought a new stake in U.S. Bancorp in the 2nd quarter valued at about $135,000. Mount Yale Investment Advisors LLC bought a new stake in U.S. Bancorp in the 1st quarter valued at about $141,000. Field & Main Bank boosted its holdings in U.S. Bancorp by 49.9% in the 2nd quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,000 shares during the period. Finally, NEXT Financial Group Inc bought a new stake in U.S. Bancorp in the 3rd quarter valued at about $181,000. 74.41% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $56.00 to $62.00 in a report on Wednesday, October 10th. UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Oppenheimer raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $59.58.
Shares of U.S. Bancorp stock traded up $0.46 on Friday, reaching $52.59. 621,776 shares of the stock were exchanged, compared to its average volume of 7,585,397. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The company has a market cap of $86.18 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 4.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.81%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio is currently 43.27%.
U.S. Bancorp Company 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.
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