Black Cypress Capital Management LLC Acquires 35,992 Shares of U.S. Bancorp $USB

Black Cypress Capital Management LLC raised its stake in U.S. Bancorp (NYSE:USB) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 314,557 shares of the financial services provider’s stock after acquiring an additional 35,992 shares during the quarter. U.S. Bancorp makes up 11.6% of Black Cypress Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Black Cypress Capital Management LLC’s holdings in U.S. Bancorp were worth $14,234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in U.S. Bancorp in the second quarter valued at $25,000. Hillsdale Investment Management Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $27,000. Saudi Central Bank acquired a new stake in U.S. Bancorp during the 1st quarter valued at approximately $26,000. Pineridge Advisors LLC increased its stake in shares of U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares during the last quarter. Finally, Activest Wealth Management lifted its position in shares of U.S. Bancorp by 846.5% during the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USB. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a report on Thursday, October 23rd. TD Cowen raised their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Finally, Citigroup lifted their price target on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.45.

U.S. Bancorp Price Performance

USB opened at $49.00 on Friday. The stock has a market capitalization of $76.17 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50 day simple moving average is $47.48 and its 200-day simple moving average is $46.50.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

U.S. Bancorp Company 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.