Synovus Financial Corp Purchases 5,266 Shares of U.S. Bancorp $USB

Key Points

• Synovus Financial Corp increased its stake in U.S. Bancorp by 6.5%, acquiring an additional 5,266 shares, bringing its total holdings to 86,202 shares valued at approximately $3.64 million.
• U.S. Bancorp's recent earnings surpassed analyst expectations, reporting $1.11 EPS for the quarter, which exceeds the estimated $1.07 EPS by $0.04.
• The company declared a quarterly dividend of $0.50, amounting to a 4.2% yield, with the ex-dividend date set for June 30th.

Synovus Financial Corp grew its stake in U.S. Bancorp (NYSE:USB - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,202 shares of the financial services provider's stock after acquiring an additional 5,266 shares during the period. Synovus Financial Corp's holdings in U.S. Bancorp were worth $3,639,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wesbanco Bank Inc. grew its holdings in shares of U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after acquiring an additional 78,146 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 649 shares in the last quarter. Becker Capital Management Inc. grew its holdings in shares of U.S. Bancorp by 1.5% in the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after acquiring an additional 8,204 shares in the last quarter. United Community Bank lifted its stake in U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider's stock valued at $35,478,000 after purchasing an additional 799,368 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

USB stock traded up $0.20 during mid-day trading on Friday, hitting $48.87. 12,069,872 shares of the company were exchanged, compared to its average volume of 7,839,136. The business has a 50 day simple moving average of $46.25 and a 200-day simple moving average of $43.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $76.05 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

USB has been the subject of several recent analyst reports. Citigroup raised their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. The Goldman Sachs Group raised their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp presently has an average rating of "Moderate Buy" and an average target price of $52.55.

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.