U.S. Bancorp (USB) Holdings Trimmed by Cullen Frost Bankers Inc.
Cullen Frost Bankers Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 4.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 80,487 shares of the financial services provider’s stock after selling 3,448 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in U.S. Bancorp were worth $4,313,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Stelac Advisory Services LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $103,000. Phocas Financial Corp. bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $109,000. Horan Capital Advisors LLC. bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at about $112,000. Cerebellum GP LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $123,000. Finally, Pathstone Family Office LLC boosted its position in shares of U.S. Bancorp by 13.2% during the 2nd quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 386 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, January 17th. Barclays lifted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Vining Sparks reiterated a “hold” rating and set a $61.00 price target on shares of U.S. Bancorp in a research report on Thursday, January 25th. JPMorgan Chase & Co. downgraded U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price target for the company. in a research report on Wednesday, January 31st. Finally, Morgan Stanley lifted their price target on U.S. Bancorp from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $58.13.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.59 billion. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. analysts expect that U.S. Bancorp will post 4.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.30 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.23%. U.S. Bancorp’s payout ratio is 34.19%.
U.S. Bancorp Company 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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