U.S. Bancorp (USB) Vice Chairman Sells $1,529,581.06 in Stock
U.S. Bancorp (NYSE:USB) Vice Chairman P.W. Parker sold 29,449 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the transaction, the insider now owns 307,698 shares in the company, valued at $15,981,834.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of U.S. Bancorp (NYSE:USB) traded down 2.89% during trading on Wednesday, hitting $50.46. 7,012,163 shares of the company were exchanged. U.S. Bancorp has a 12 month low of $38.47 and a 12 month high of $56.61. The company’s 50-day moving average price is $51.40 and its 200 day moving average price is $51.63. The stock has a market cap of $85.04 billion, a P/E ratio of 15.29 and a beta of 0.84.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 19th. The financial services provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. U.S. Bancorp had a net margin of 25.89% and a return on equity of 13.88%. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post $3.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Wednesday, March 29th. U.S. Bancorp’s dividend payout ratio is presently 34.46%.
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Institutional investors have recently modified their holdings of the stock. Vicus Capital increased its position in shares of U.S. Bancorp by 0.6% in the third quarter. Vicus Capital now owns 5,560 shares of the financial services provider’s stock worth $238,000 after buying an additional 32 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in U.S. Bancorp during the third quarter valued at about $214,000. Bradley Foster & Sargent Inc. CT increased its stake in U.S. Bancorp by 4.0% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 288,646 shares of the financial services provider’s stock valued at $12,380,000 after buying an additional 11,093 shares during the period. Sprott Inc. purchased a new stake in U.S. Bancorp during the third quarter valued at about $956,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in U.S. Bancorp during the third quarter valued at about $782,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Wells Fargo & Co cut U.S. Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $38.48 to $52.31 in a report on Thursday, May 4th. They noted that the move was a valuation call. Rafferty Capital Markets lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research report on Thursday, April 20th. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of U.S. Bancorp in a research report on Tuesday, April 4th. Zacks Investment Research lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $49.00 price target on shares of U.S. Bancorp in a research report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $49.88.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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