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

NBC Securities Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Iams Wealth Management LLC lifted its holdings in U.S. Bancorp by 3.7% in the third quarter. Iams Wealth Management LLC now owns 34,499 shares of the financial services provider’s stock valued at $1,578,000 after buying an additional 1,220 shares during the period. Grove Bank & Trust lifted its holdings in U.S. Bancorp by 2,235.2% in the third quarter. Grove Bank & Trust now owns 27,532 shares of the financial services provider’s stock valued at $1,259,000 after buying an additional 26,353 shares during the period. Stablepoint Partners LLC lifted its holdings in U.S. Bancorp by 2.0% in the third quarter. Stablepoint Partners LLC now owns 29,842 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 578 shares during the period. Procyon Advisors LLC lifted its holdings in U.S. Bancorp by 4.1% in the third quarter. Procyon Advisors LLC now owns 20,856 shares of the financial services provider’s stock valued at $954,000 after buying an additional 823 shares during the period. Finally, Paladin Wealth LLC acquired a new position in U.S. Bancorp in the third quarter valued at $44,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 4.7 %

Shares of USB stock opened at $49.21 on Thursday. U.S. Bancorp has a 52-week low of $30.47 and a 52-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. The company has a 50-day simple moving average of $44.94 and a two-hundred day simple moving average of $42.58. The company has a market capitalization of $76.78 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm posted $1.12 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on USB shares. UBS Group boosted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Citigroup upped their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. DA Davidson upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. Finally, Jefferies Financial Group dropped their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $49.14.

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.