U.S. Bancorp (NYSE:USB) Insider Sells $2,280,000.00 in Stock
by Scott Moore · The Cerbat GemU.S. Bancorp (NYSE:USB – Get Free Report) insider Jodi Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
U.S. Bancorp Stock Down 0.4%
USB traded down $0.23 during trading on Wednesday, hitting $56.62. 8,547,027 shares of the company’s stock traded hands, compared to its average volume of 10,998,215. The company’s 50 day simple moving average is $54.36 and its two-hundred day simple moving average is $52.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $39.26 and a 12-month high of $61.19. The stock has a market capitalization of $87.88 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.03 and a beta of 1.01.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The business had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.
Analyst Ratings Changes
Several brokerages have commented on USB. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. HSBC reissued a “buy” rating and set a $62.00 price target on shares of U.S. Bancorp in a report on Wednesday, January 7th. Evercore increased their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Jefferies Financial Group reissued a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. Finally, Argus increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $61.18.
Check Out Our Latest Research Report on USB
Hedge Funds Weigh In On U.S. Bancorp
Several hedge funds and other institutional investors have recently modified their holdings of USB. Chemung Canal Trust Co. raised its holdings in U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after acquiring an additional 45,963 shares during the period. Citigroup Inc. raised its holdings in U.S. Bancorp by 2.4% during the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after acquiring an additional 41,803 shares during the period. Danske Bank A S bought a new stake in U.S. Bancorp during the third quarter valued at about $37,162,000. Jones Financial Companies Lllp raised its holdings in U.S. Bancorp by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after acquiring an additional 47,537 shares during the period. Finally, Synergy Asset Management LLC raised its holdings in U.S. Bancorp by 100.0% during the third quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 59,981 shares during the period. 77.60% of the stock is owned by institutional investors.
About U.S. Bancorp
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.