Traders Sell U.S. Bancorp (USB) on Strength (USB)
Investors sold shares of U.S. Bancorp (NYSE:USB) on strength during trading on Monday. $49.03 million flowed into the stock on the tick-up and $143.30 million flowed out of the stock on the tick-down, for a money net flow of $94.27 million out of the stock. Of all equities tracked, U.S. Bancorp had the 24th highest net out-flow for the day. U.S. Bancorp traded up $0.47 for the day and closed at $50.22
Several analysts recently commented on USB shares. Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Deutsche Bank downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Nomura cut their price objective on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, October 18th. Citigroup downgraded shares of U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Finally, Oppenheimer raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $58.78.
The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $81.16 billion, a PE ratio of 12.25, a PEG ratio of 1.54 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, December 28th. U.S. Bancorp’s payout ratio is 36.10%.
In related news, EVP Mark G. Runkel sold 6,347 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $53.20, for a total value of $337,660.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total transaction of $889,581.48. Following the sale, the insider now owns 121,137 shares in the company, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. In the last three months, insiders sold 237,549 shares of company stock worth $12,562,507. 0.43% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $351,000. Verition Fund Management LLC bought a new position in U.S. Bancorp in the second quarter worth about $454,000. Global X Management Co LLC raised its holdings in U.S. Bancorp by 14.7% in the second quarter. Global X Management Co LLC now owns 25,740 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 3,303 shares in the last quarter. Andra AP fonden bought a new position in U.S. Bancorp in the second quarter worth about $5,897,000. Finally, Advisors Asset Management Inc. raised its holdings in U.S. Bancorp by 17.9% in the second quarter. Advisors Asset Management Inc. now owns 76,186 shares of the financial services provider’s stock worth $3,811,000 after purchasing an additional 11,547 shares in the last quarter. Institutional investors own 75.16% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Traders Sell U.S. Bancorp (USB) on Strength (USB)” was posted by Watch List News and is owned by of Watch List News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.watchlistnews.com/traders-sell-u-s-bancorp-usb-on-strength-usb/2761735.html.
About U.S. Bancorp (NYSE:USB)
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
See Also: Why do companies engage in swaps?
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.