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.

In related news, Vice Chairman John R. Elmore sold 58,924 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $51.71, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.43% of the stock is owned by corporate insiders.

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.

Read More: Is the Dow Jones Industrial Average (DJIA) still relevant?

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.