Simmons Bank Lowers Position in U.S. Bancorp (NYSE:USB)

Simmons Bank lowered its position in U.S. Bancorp (NYSE:USB) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,423 shares of the financial services provider’s stock after selling 914 shares during the period. Simmons Bank’s holdings in U.S. Bancorp were worth $1,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in USB. Scotia Capital Inc. grew its holdings in U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 990 shares during the period. Spinnaker Trust acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $220,000. Tealwood Asset Management Inc. boosted its holdings in U.S. Bancorp by 33.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after buying an additional 15,665 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in U.S. Bancorp during the fourth quarter worth about $4,073,000. Finally, abrdn plc increased its holdings in U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after buying an additional 272,976 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 0.6 %

NYSE:USB traded down $0.24 on Tuesday, hitting $41.58. 8,662,696 shares of the stock were exchanged, compared to its average volume of 8,547,157. The stock has a market cap of $64.88 billion, a PE ratio of 13.77, a PEG ratio of 2.16 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $28.53 and a fifty-two week high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average of $42.35 and a 200-day moving average of $40.64.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm posted $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.71%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer lowered their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $46.02.

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.