NBC Securities Inc. Sells 2,906 Shares of U.S. Bancorp (NYSE:USB)

NBC Securities Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 15.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 16,048 shares of the financial services provider’s stock after selling 2,906 shares during the period. NBC Securities Inc.’s holdings in U.S. Bancorp were worth $733,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the second quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the second quarter worth approximately $30,000. Eagle Bay Advisors LLC lifted its position in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in U.S. Bancorp during the first quarter worth approximately $31,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $49.21 on Thursday. The firm’s fifty day moving average price is $44.94 and its two-hundred day moving average price is $42.58. The stock has a market cap of $76.78 billion, a PE ratio of 16.29, a PEG ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.11. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal 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 repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.06%. U.S. Bancorp’s payout ratio is currently 66.23%.

Analyst Ratings Changes

USB has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.14.

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.