U.S. Bancorp (USB) Position Trimmed by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its position in U.S. Bancorp (NYSE:USB) by 65.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,107 shares of the financial services provider’s stock after selling 47,612 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in U.S. Bancorp were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in U.S. Bancorp by 0.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 41,034,263 shares of the financial services provider’s stock worth $2,052,534,000 after purchasing an additional 124,650 shares during the period. Bank of New York Mellon Corp raised its position in U.S. Bancorp by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after purchasing an additional 2,071,326 shares during the period. Janus Henderson Group PLC raised its position in U.S. Bancorp by 8.5% in the 2nd quarter. Janus Henderson Group PLC now owns 12,146,468 shares of the financial services provider’s stock worth $607,565,000 after purchasing an additional 946,517 shares during the period. American Century Companies Inc. raised its position in U.S. Bancorp by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 10,220,827 shares of the financial services provider’s stock worth $511,246,000 after purchasing an additional 186,828 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in U.S. Bancorp by 2.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,861,928 shares of the financial services provider’s stock worth $293,214,000 after purchasing an additional 132,854 shares during the period. 74.50% of the stock is currently owned by institutional investors.

Shares of USB stock opened at $52.27 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $82.93 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.68 and a beta of 0.98. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50.

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, topping the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, September 27th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.83%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.27%.

In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the transaction, the insider now directly owns 124,086 shares in the company, valued at $6,565,390.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total transaction of $889,581.48. Following the transaction, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

A number of research firms recently weighed in on USB. CIBC raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 18th. ValuEngine downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of 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. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Finally, UBS Group set a $56.00 target price on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $59.36.

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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