Simmons Bank Has $1.63 Million Stake in U.S. Bancorp (NYSE:USB)

Simmons Bank reduced its stake in U.S. Bancorp (NYSE:USB) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,615 shares of the financial services provider’s stock after selling 669 shares during the quarter. Simmons Bank’s holdings in U.S. Bancorp were worth $1,629,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp in the second quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth $30,000. LRI Investments LLC bought a new stake in U.S. Bancorp during the first quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $33,000. Finally, Crewe Advisors LLC bought a new position in shares of U.S. Bancorp in the first quarter worth about $39,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Barclays increased their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Finally, Stephens upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.12.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $51.17 on Thursday. U.S. Bancorp has a 1-year low of $35.02 and a 1-year high of $51.76. The company has a 50 day moving average of $46.69 and a 200-day moving average of $43.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $79.83 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp declared that its board has initiated a stock buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.