U.S. Bancorp Sees Large Increase in Short Interest (USB)
Shares of U.S. Bancorp (NYSE:USB) were the target of a large growth in short interest in May. As of May 30th, there was short interest totalling 19,432,968 shares, a growth of 26.8% from the May 15th total of 15,328,209 shares, AnalystRatingsNetwork.com reports. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 6,176,594 shares, the days-to-cover ratio is currently 3.1 days.
A number of research firms have recently commented on USB. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Thursday. They now have a $44.00 price target on the stock, up previously from $42.50. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $42.00 to $44.00 in a research note on Monday, June 9th. They now have a “market perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, June 2nd. They now have a $44.00 price target on the stock. Sixteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $43.43.
U.S. Bancorp (NYSE:USB) opened at 43.74 on Monday. U.S. Bancorp has a 1-year low of $35.14 and a 1-year high of $43.92. The stock has a 50-day moving average of $41.81 and a 200-day moving average of $41.08. The company has a market cap of $79.395 billion and a price-to-earnings ratio of 14.43.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that U.S. Bancorp will post $3.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, June 26th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.23.
U.S. Bancorp (NYSE:USB) is a multi-state financial services holding company.
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