U.S. Bancorp Target of Unusually Large Options Trading (USB)
U.S. Bancorp (NYSE:USB) saw some unusual options trading on Thursday. Investors purchased 4,000 put options on the stock. This is an increase of approximately 975% compared to the typical daily volume of 372 put options.
In related news, Vice Chairman Leslie V. Godridge sold 14,192 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $52.18, for a total transaction of $740,538.56. Following the transaction, the insider now owns 62,303 shares of the company’s stock, valued at $3,250,970.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Leslie V. Godridge sold 25,746 shares of U.S. Bancorp stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $50.62, for a total value of $1,303,262.52. Following the transaction, the insider now directly owns 73,857 shares in the company, valued at approximately $3,738,641.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,387 shares of company stock worth $3,573,382. 0.68% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Hemenway Trust Co LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $109,000. SRS Capital Advisors Inc. purchased a new position in U.S. Bancorp during the fourth quarter worth about $112,000. Glassman Wealth Services purchased a new position in U.S. Bancorp during the fourth quarter worth about $116,000. Orrstown Financial Services Inc. increased its position in U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock worth $116,000 after buying an additional 475 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in U.S. Bancorp by 0.4% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,955 shares of the financial services provider’s stock worth $127,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Several research analysts recently issued reports on the company. Rafferty Capital Markets cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Thursday, April 20th. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 target price on shares of U.S. Bancorp in a research report on Tuesday, April 4th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $49.00 target price on shares of U.S. Bancorp in a research report on Wednesday, March 1st. Wells Fargo & Co cut U.S. Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $38.48 to $52.31 in a research report on Thursday, May 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and an average price target of $49.88.
Shares of U.S. Bancorp (NYSE:USB) opened at 51.30 on Friday. U.S. Bancorp has a 52 week low of $38.48 and a 52 week high of $56.61. The firm has a 50 day moving average price of $51.40 and a 200 day moving average price of $52.08. The company has a market capitalization of $86.46 billion, a price-to-earnings ratio of 15.54 and a beta of 0.84.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.27 billion. U.S. Bancorp had a return on equity of 13.88% and a net margin of 25.89%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. Equities analysts forecast that U.S. Bancorp will post $3.47 EPS for the current year.
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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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