Cullinan Associates Inc Lowers stake in U.S. Bancorp (USB)

U.S. Bancorp (USB) : Cullinan Associates Inc reduced its stake in U.S. Bancorp by 1.02% during the most recent quarter end. The investment management company now holds a total of 241,135 shares of U.S. Bancorp which is valued at $9,659,868 after selling 2,482 shares in U.S. Bancorp , the firm said in a disclosure report filed with the SEC on Jul 1, 2016.U.S. Bancorp makes up approximately 0.79% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Cacti Asset Management reduced its stake in USB by selling 1,000 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 539,518 shares of USB which is valued at $21,613,091. U.S. Bancorp makes up approx 2.34% of Cacti Asset Management’s portfolio.

U.S. Bancorp closed down -0.27 points or -0.67% at $40.06 with 46,84,419 shares getting traded on Friday. Post opening the session at $40.15, the shares hit an intraday low of $39.91 and an intraday high of $40.26 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, U.S. Bancorp reported $0.76 EPS for the quarter, based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus estimate of $0.76. The company had revenue of $5037.00 million for the quarter, compared to analysts expectations of $5071.11 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on U.S. Bancorp. Shares were Reiterated by Compass Point on Apr 21, 2016 to “Neutral” and Lowered the Price Target to $ 46 from a previous price target of $48 .Shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Neutral” and Lowered the Price Target to $ 42 from a previous price target of $45 .U.S. Bancorp was Downgraded by Guggenheim to ” Neutral” on Apr 6, 2016.

U.S. Bancorp is a multi-state financial services holding company. The Company operates through its banking subsidiary U.S. Bank National Association is engaged in the general banking business in domestic markets. The Company provides a range of financial services including lending and depository services cash management capital markets and trust and investment management services. It also engages in credit card services merchant and automated teller machines (ATM) processing mortgage banking insurance brokerage and leasing. U.S. Bank National Association provides a range of products and services to individuals businesses institutional organizations governmental entities and other financial institutions. Its commercial and consumer lending services are offered to customers within the Company’s domestic markets to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company.

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