Black Cypress Capital Management LLC Has $18.36 Million Holdings in U.S. Bancorp $USB

Key Points

• Black Cypress Capital Management increased its U.S. Bancorp stake by 6.5% in the fourth quarter, bringing its holdings to 344,130 shares worth about $18.36 million. U.S. Bancorp now represents roughly 12.8% of the firm’s portfolio.
• U.S. Bancorp reported strong quarterly results, with earnings of $1.18 per share beating estimates and revenue of $7.32 billion also topping forecasts. Quarterly revenue rose 4.7% year over year.
• The bank continues to return cash to shareholders, paying a $0.52 quarterly dividend that annualizes to $2.08 per share for a 3.8% yield. Meanwhile, analysts maintain a Moderate Buy consensus with an average target price of $61.20.

Black Cypress Capital Management LLC increased its position in U.S. Bancorp (NYSE:USB - Free Report) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 344,130 shares of the financial services provider's stock after acquiring an additional 20,861 shares during the quarter. U.S. Bancorp comprises about 12.8% of Black Cypress Capital Management LLC's holdings, making the stock its 2nd biggest holding. Black Cypress Capital Management LLC's holdings in U.S. Bancorp were worth $18,363,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of USB. Clayton Financial Group LLC bought a new stake in U.S. Bancorp during the fourth quarter valued at approximately $25,000. Guerra Advisors Inc bought a new stake in U.S. Bancorp during the third quarter valued at approximately $25,000. Financial Life Planners bought a new stake in U.S. Bancorp during the third quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the third quarter valued at approximately $28,000. Finally, Westfuller Advisors LLC lifted its position in U.S. Bancorp by 54.7% during the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 215 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 0.8%

Shares of USB opened at $54.87 on Friday. The firm has a market cap of $85.17 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The firm has a 50 day moving average price of $54.42 and a 200-day moving average price of $53.92.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's payout ratio is presently 43.61%.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on USB shares. Royal Bank Of Canada lifted their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. UBS Group reiterated a "neutral" rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Evercore lifted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. Jefferies Financial Group reiterated a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.20.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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