Synovus Financial Corp Raises Position in U.S. Bancorp (NYSE:USB)

Synovus Financial Corp lifted its position in U.S. Bancorp (NYSE:USB) by 7.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 80,936 shares of the financial services provider’s stock after acquiring an additional 5,780 shares during the period. Synovus Financial Corp’s holdings in U.S. Bancorp were worth $3,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. Capital Performance Advisors LLP lifted its position in U.S. Bancorp by 2.6% in the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 210 shares in the last quarter. HCR Wealth Advisors lifted its holdings in shares of U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 211 shares in the last quarter. Covestor Ltd boosted its position in shares of U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after buying an additional 214 shares during the last quarter. Priebe Wealth Holdings LLC increased its holdings in U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after buying an additional 215 shares in the last quarter. Finally, Essex Savings Bank raised its position in U.S. Bancorp by 1.8% in the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after buying an additional 216 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $37.85 on Monday. The firm’s 50 day simple moving average is $43.46 and its two-hundred day simple moving average is $47.04. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $58.97 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Truist Financial cut their target price on shares of U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Friday, April 4th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.52.

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.