Simmons Bank Has $1.66 Million Position in U.S. Bancorp (NYSE:USB)

Simmons Bank lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 2.3% in the fourth quarter, Holdings Channel reports. 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after acquiring an additional 2,598,163 shares during the period. Northern Financial Advisors Inc bought a new stake in U.S. Bancorp during the 4th quarter valued at approximately $272,000. Apollon Wealth Management LLC grew its holdings in U.S. Bancorp by 33.5% in the 4th quarter. Apollon Wealth Management LLC now owns 25,621 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 6,424 shares during the last quarter. Lincoln National Corp increased its position in U.S. Bancorp by 5.6% in the 4th quarter. Lincoln National Corp now owns 69,646 shares of the financial services provider’s stock worth $3,014,000 after buying an additional 3,708 shares during the period. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of U.S. Bancorp by 3.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 121,250 shares of the financial services provider’s stock worth $5,248,000 after buying an additional 4,194 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on USB shares. DA Davidson dropped their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Royal Bank of Canada lifted their target price on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. UBS Group cut their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. reduced their price objective on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.02.

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 that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.24 during mid-day trading on Tuesday, hitting $41.58. 8,662,696 shares of the stock were exchanged, compared to its average volume of 8,547,157. The company has a market cap of $64.88 billion, a P/E ratio of 13.77, a PEG ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a twelve month low of $28.53 and a twelve month high of $45.85. The stock’s fifty day simple moving average is $42.35 and its two-hundred day simple moving average is $40.64.

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

U.S. Bancorp Announces Dividend

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

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.