Investors Sell Shares of U.S. Bancorp (USB) on Strength (USB)
Traders sold shares of U.S. Bancorp (NYSE:USB) on strength during trading on Monday. $21.39 million flowed into the stock on the tick-up and $101.84 million flowed out of the stock on the tick-down, for a money net flow of $80.45 million out of the stock. Of all stocks tracked, U.S. Bancorp had the 0th highest net out-flow for the day. U.S. Bancorp traded up $0.13 for the day and closed at $54.26
A number of equities research analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 12th. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird reiterated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, October 6th. Citigroup Inc. reiterated a “neutral” rating and set a $58.00 price objective (up previously from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. Finally, Instinet cut U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $55.00 in a research note on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.56.
The stock has a market cap of $90.13 billion, a PE ratio of 16.28 and a beta of 0.87. The company’s 50-day moving average price is $52.67 and its 200 day moving average price is $52.05.
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 Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post $3.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.23%. U.S. Bancorp’s payout ratio is presently 36.04%.
U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 1.7% in the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock valued at $5,481,092,000 after buying an additional 1,727,498 shares during the period. State Street Corp raised its stake in shares of U.S. Bancorp by 1.2% in the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after buying an additional 903,504 shares during the period. New England Asset Management Inc. raised its stake in shares of U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after buying an additional 9,150,126 shares during the period. Franklin Resources Inc. raised its stake in shares of U.S. Bancorp by 0.7% in the second quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock valued at $831,753,000 after buying an additional 110,571 shares during the period. Finally, US Bancorp DE raised its stake in shares of U.S. Bancorp by 1.9% in the second quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock valued at $735,074,000 after buying an additional 259,093 shares during the period. Hedge funds and other institutional investors own 73.95% of the company’s stock.
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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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