Bard Financial Services Inc. Decreases Stake in U.S. Bancorp (NYSE:USB)

Bard Financial Services Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,409 shares of the financial services provider’s stock after selling 1,500 shares during the period. Bard Financial Services Inc.’s holdings in U.S. Bancorp were worth $2,937,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of USB. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the second quarter worth approximately $25,000. Frazier Financial Advisors LLC boosted its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp in the second quarter worth $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB traded up $0.46 on Monday, reaching $49.32. 2,110,631 shares of the stock traded hands, compared to its average volume of 4,859,075. The firm’s fifty day simple moving average is $50.20 and its 200 day simple moving average is $46.25. The company has a market cap of $76.94 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 3.03 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last issued 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 business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts predict that U.S. Bancorp will post 3.93 EPS 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 buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.06%. U.S. Bancorp’s dividend payout ratio is 61.16%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s 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 owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a research note on Thursday. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $54.08.

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.