U.S. Bancorp (NYSE:USB) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its stake in U.S. Bancorp (NYSE:USB) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,118 shares of the financial services provider’s stock after selling 1,000 shares during the period. Cullinan Associates Inc.’s holdings in U.S. Bancorp were worth $1,614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after buying an additional 6,479,642 shares during the period. Charles Schwab Investment Management Inc. increased its stake in U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after purchasing an additional 2,598,163 shares in the last quarter. Norges Bank purchased a new stake in U.S. Bancorp during the fourth quarter worth $827,370,000. Morgan Stanley boosted its position in U.S. Bancorp by 4.3% during the third quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock worth $599,363,000 after purchasing an additional 751,865 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of U.S. Bancorp by 3.0% in the fourth quarter. Van ECK Associates Corp now owns 8,941,642 shares of the financial services provider’s stock valued at $386,994,000 after buying an additional 264,264 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research report on Thursday, May 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. DA Davidson decreased their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Sixteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Stock Up 1.9 %

USB stock opened at $39.97 on Wednesday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $62.37 billion, a P/E ratio of 13.24, a PEG ratio of 3.82 and a beta of 1.04. The firm has a 50 day simple moving average of $40.32 and a 200-day simple moving average of $41.65.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.90%. The ex-dividend date is Friday, June 28th. U.S. Bancorp’s payout ratio is currently 64.90%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.