U.S. Bancorp (USB) Position Trimmed by Cypress Capital Group
Cypress Capital Group lowered its position in U.S. Bancorp (NYSE:USB) by 28.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,300 shares of the financial services provider’s stock after selling 3,750 shares during the period. Cypress Capital Group’s holdings in U.S. Bancorp were worth $483,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after purchasing an additional 1,727,498 shares in the last quarter. State Street Corp lifted its stake in U.S. Bancorp by 1.2% in the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock worth $3,888,995,000 after purchasing an additional 903,504 shares in the last quarter. New England Asset Management Inc. lifted its stake in U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after purchasing an additional 9,150,126 shares in the last quarter. Franklin Resources Inc. lifted its stake in U.S. Bancorp by 0.7% in the 2nd quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock worth $831,753,000 after purchasing an additional 110,571 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in U.S. Bancorp by 5,598.0% in the 2nd quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock worth $656,975,000 after purchasing an additional 12,431,466 shares in the last quarter. 74.07% of the stock is owned by institutional investors.
Shares of U.S. Bancorp (NYSE:USB) traded down $0.23 during midday trading on Thursday, hitting $54.59. 3,822,000 shares of the stock traded hands, compared to its average volume of 6,071,269. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $90,973.30, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. equities analysts forecast that U.S. Bancorp will post 3.43 EPS for the current fiscal year.
Several analysts have commented on the stock. Jefferies Group reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, August 11th. Oppenheimer restated a “hold” rating on shares of U.S. Bancorp in a research report on Thursday, October 19th. Morgan Stanley upped their target price on shares of U.S. Bancorp from $51.00 to $55.00 and gave the company an “underweight” rating in a research report on Thursday, October 19th. Nomura cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $54.20.
U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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