Black Cypress Capital Management LLC Raises Stake in U.S. Bancorp $USB

Key Points

• Black Cypress Capital Management LLC has increased its holdings in U.S. Bancorp by 12.9%, making U.S. Bancorp its second biggest holding, valued at approximately $11.76 million.
• U.S. Bancorp recently reported $1.11 earnings per share for the quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.50 per share.
• Wall Street analysts have given U.S. Bancorp an average rating of "Moderate Buy" with a target price of $52.55, reflecting a general positive outlook on the stock.

Black Cypress Capital Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 278,565 shares of the financial services provider's stock after purchasing an additional 31,798 shares during the period. U.S. Bancorp comprises approximately 10.7% of Black Cypress Capital Management LLC's holdings, making the stock its 2nd biggest position. Black Cypress Capital Management LLC's holdings in U.S. Bancorp were worth $11,761,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in USB. Nuveen LLC bought a new position in shares of U.S. Bancorp in the first quarter worth about $138,183,000. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after buying an additional 2,393,383 shares during the last quarter. Northern Trust Corp raised its position in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after buying an additional 1,670,305 shares during the last quarter. GAMMA Investing LLC raised its position in shares of U.S. Bancorp by 4,160.7% during the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock valued at $65,340,000 after buying an additional 1,511,293 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $64,257,000. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.4%

Shares of USB traded up $0.19 during trading hours on Monday, reaching $46.12. 5,892,762 shares of the company traded hands, compared to its average volume of 8,569,937. The firm has a market cap of $71.77 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.44 and a beta of 1.01. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock's fifty day moving average price is $45.46 and its 200 day moving average price is $43.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup increased their price target on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Cowen initiated coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Finally, DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

About U.S. Bancorp

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.