Bard Financial Services Inc. Has $2.88 Million Position in U.S. Bancorp (NYSE:USB)

Bard Financial Services Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,909 shares of the financial services provider’s stock after selling 3,750 shares during the quarter. Bard Financial Services Inc.’s holdings in U.S. Bancorp were worth $2,877,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. M&T Bank Corp raised its position in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after buying an additional 22,803 shares during the last quarter. Unigestion Holding SA acquired a new stake in U.S. Bancorp in the 3rd quarter valued at approximately $600,000. TD Private Client Wealth LLC raised its position in U.S. Bancorp by 7.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 200,657 shares of the financial services provider’s stock valued at $9,176,000 after buying an additional 13,578 shares during the last quarter. Empire Financial Management Company LLC acquired a new stake in U.S. Bancorp in the 3rd quarter valued at approximately $215,000. Finally, Coldstream Capital Management Inc. raised its position in U.S. Bancorp by 13.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 69,726 shares of the financial services provider’s stock valued at $3,217,000 after buying an additional 8,234 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $51.97 on Wednesday. The business has a fifty day simple moving average of $49.24 and a 200 day simple moving average of $44.95. The company 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 has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

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 (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.85%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on USB shares. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Wells Fargo & Company raised 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. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $53.27.

U.S. Bancorp 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.