Bard Financial Services Inc. Sells 3,750 Shares of U.S. Bancorp (NYSE:USB)

Bard Financial Services Inc. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 62,909 shares of the financial services provider’s stock after selling 3,750 shares during the period. Bard Financial Services Inc.’s holdings in U.S. Bancorp were worth $2,877,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. M&T Bank Corp raised its position in U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the last quarter. Unigestion Holding SA bought a new position in U.S. Bancorp in the third quarter valued at about $600,000. TD Private Client Wealth LLC raised its position in U.S. Bancorp by 7.3% in the third quarter. TD Private Client Wealth LLC now owns 200,657 shares of the financial services provider’s stock valued at $9,176,000 after purchasing an additional 13,578 shares during the last quarter. Empire Financial Management Company LLC bought a new position in U.S. Bancorp in the third quarter valued at about $215,000. Finally, Coldstream Capital Management Inc. raised its position in U.S. Bancorp by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 69,726 shares of the financial services provider’s stock valued at $3,217,000 after purchasing an additional 8,234 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.8 %

Shares of U.S. Bancorp stock opened at $51.97 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The stock has a 50 day moving average price of $49.24 and a two-hundred day moving average price of $44.95. The stock has a market capitalization of $81.07 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03.

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

U.S. Bancorp declared that its board has authorized a share buyback plan 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.85%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Wall Street Analyst Weigh In

USB has been the subject of several recent research reports. Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler increased their price target on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $53.27.

U.S. Bancorp Company Profile

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.