U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia Sells 27,267 Shares

U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% 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 Trading Down 1.3%

NYSE:USB opened at $61.66 on Tuesday. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $62.90 and its 200-day simple moving average is $57.74. The firm has a market cap of $96.07 billion, a P/E ratio of 12.31, a PEG ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the company earned $1.11 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s payout ratio is presently 41.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inceptionr LLC raised its position in U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after acquiring an additional 22,348 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares in the last quarter. Keudell Morrison Wealth Management acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $2,856,000. Principal Financial Group Inc. grew its position in shares of U.S. Bancorp by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,769,589 shares of the financial services provider’s stock valued at $94,425,000 after purchasing an additional 49,733 shares during the last quarter. Finally, Mufg Bank LTD. purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $2,680,199,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on USB shares. Raymond James Financial assumed coverage on U.S. Bancorp in a report on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 price objective on the stock. Wells Fargo & Company increased their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Oppenheimer raised their price target on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Barclays lifted their price target on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, BTIG Research set a $67.50 price objective on U.S. Bancorp in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

U.S. Bancorp Company Profile

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.