U.S. Bancorp (NYSE:USB - Get Free Report) CEO Gunjan Kedia sold 27,267 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
U.S. Bancorp Stock Down 1.3%
Shares of NYSE:USB opened at $61.66 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $96.07 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.02 and a beta of 0.96. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The stock's fifty day simple moving average is $62.90 and its 200-day simple moving average is $57.74.
U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.
U.S. Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. U.S. Bancorp's payout ratio is 41.52%.
Analyst Upgrades and Downgrades
USB has been the topic of several recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of U.S. Bancorp in a research note on Friday, July 31st. Keefe, Bruyette & Woods boosted their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a "market perform" rating in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. UBS Group raised their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.06.
View Our Latest Stock Analysis on USB
Institutional Investors Weigh In On U.S. Bancorp
A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in U.S. Bancorp by 5,893.0% during the second quarter. California State Teachers Retirement System now owns 142,640,580 shares of the financial services provider's stock worth $8,615,491,000 after purchasing an additional 140,260,472 shares during the last quarter. State Street Corp boosted its holdings in shares of U.S. Bancorp by 0.8% in the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock valued at $3,755,083,000 after purchasing an additional 522,368 shares during the last quarter. Mufg Bank LTD. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $2,680,199,000. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider's stock valued at $2,002,518,000 after buying an additional 443,646 shares during the period. Finally, Norges Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth $1,887,497,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.
U.S. Bancorp Company Profile
(
Get Free Report)
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
