Cypress Asset Management Inc. TX Has $683,000 Holdings in U.S. Bancorp (USB)
Cypress Asset Management Inc. TX lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 11.0% in the third quarter, Holdings Channel reports. The firm owned 12,935 shares of the financial services provider’s stock after selling 1,600 shares during the period. Cypress Asset Management Inc. TX’s holdings in U.S. Bancorp were worth $683,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in USB. Horan Capital Management acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $109,000. Integrated Investment Consultants LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $135,000. Mount Yale Investment Advisors LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $141,000. Field & Main Bank boosted its stake in shares of 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 worth $159,000 after buying an additional 1,000 shares during the last quarter. Finally, NEXT Financial Group Inc purchased a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $181,000. Institutional investors and hedge funds own 74.41% of the company’s stock.
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 stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the transaction, the insider now owns 98,371 shares in the company, valued at $5,086,764.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.43% of the stock is currently owned by corporate insiders.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. U.S. Bancorp’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 4.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.37 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 2.82%. U.S. Bancorp’s dividend payout ratio is presently 43.27%.
A number of equities analysts have recently weighed in on USB shares. Zacks Investment Research upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Friday, October 12th. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Macquarie upgraded U.S. Bancorp from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Wedbush restated a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Finally, UBS Group upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note 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 stock. The company currently has an average rating of “Hold” and an average target price of $59.58.
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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