U.S. Bancorp Target of Unusually High Options Trading (USB)
U.S. Bancorp (NYSE:USB) was the recipient of unusually large options trading on Friday. Stock traders bought 7,555 put options on the stock. This is an increase of 262% compared to the average daily volume of 2,089 put options.
Shares of U.S. Bancorp (NYSE USB) opened at 53.12 on Monday. The stock has a 50 day moving average price of $52.20 and a 200 day moving average price of $52.46. The stock has a market capitalization of $89.19 billion, a P/E ratio of 16.05 and a beta of 0.86. U.S. Bancorp has a 12-month low of $41.47 and a 12-month high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.11%. U.S. Bancorp’s payout ratio is 33.63%.
A number of analysts have issued reports on USB shares. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, July 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, June 9th. Finally, Rafferty Capital Markets downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Thursday, April 20th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $52.56.
In related news, Vice Chairman P.W. Parker sold 29,449 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the completion of the transaction, the insider now directly owns 307,698 shares of the company’s stock, valued at approximately $15,981,834.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of U.S. Bancorp by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 44,456 shares of the financial services provider’s stock valued at $2,280,000 after buying an additional 171 shares during the last quarter. Addenda Capital Inc. boosted its position in shares of U.S. Bancorp by 100.3% in the first quarter. Addenda Capital Inc. now owns 63,680 shares of the financial services provider’s stock valued at $3,291,000 after buying an additional 31,893 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of U.S. Bancorp by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 528,266 shares of the financial services provider’s stock valued at $27,205,000 after buying an additional 2,630 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its position in shares of U.S. Bancorp by 1.1% in the first quarter. Douglass Winthrop Advisors LLC now owns 11,650 shares of the financial services provider’s stock valued at $600,000 after buying an additional 125 shares during the last quarter. Finally, Creative Planning boosted its position in shares of U.S. Bancorp by 18.6% in the first quarter. Creative Planning now owns 288,627 shares of the financial services provider’s stock valued at $14,864,000 after buying an additional 45,276 shares during the last quarter. 75.84% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp Company Profile
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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