Cypress Asset Management Inc. TX Sells 1,600 Shares of U.S. Bancorp (USB)

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Cypress Asset Management Inc. TX cut its stake in shares of U.S. Bancorp (NYSE:USB) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,935 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in U.S. Bancorp were worth $683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lau Associates LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth about $317,000. Parallel Advisors LLC raised its position in shares of U.S. Bancorp by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 12,749 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 2,505 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of U.S. Bancorp by 18.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 198,873 shares of the financial services provider’s stock worth $9,942,000 after acquiring an additional 31,060 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter worth about $567,000. Finally, Global X Management Co LLC raised its position in shares of U.S. Bancorp by 14.7% in the 2nd quarter. Global X Management Co LLC now owns 25,740 shares of the financial services provider’s stock worth $1,288,000 after acquiring an additional 3,303 shares in the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Vice Chairman John R. Elmore sold 58,924 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 98,371 shares of the company’s stock, valued at approximately $5,086,764.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.43% of the company’s stock.

Several research analysts have recently weighed in on the company. CIBC raised U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research report on Thursday. ValuEngine lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, October 12th. Macquarie raised U.S. Bancorp from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $56.00 to $62.00 in a research report on Wednesday, October 10th. Finally, Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.58.

Shares of U.S. Bancorp stock opened at $52.50 on Friday. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50. The stock has a market capitalization of $86.18 billion, a P/E ratio of 15.35, a PEG ratio of 1.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.85 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 4.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s payout ratio is presently 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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