U.S. Bancorp (NYSE:USB) EVP Craig E. Gifford Sells 300 Shares
U.S. Bancorp (NYSE:USB) EVP Craig E. Gifford sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total value of $15,927.00. Following the completion of the sale, the executive vice president now directly owns 41,264 shares in the company, valued at $2,190,705.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of U.S. Bancorp (NYSE USB) traded down 0.63% during trading on Friday, hitting $52.05. The stock had a trading volume of 4,448,688 shares. The company has a market capitalization of $87.07 billion, a PE ratio of 15.73 and a beta of 0.86. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61. The firm has a 50-day moving average price of $52.32 and a 200 day moving average price of $52.55.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Equities analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.28 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.15%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 33.63%.
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A number of institutional investors have recently made changes to their positions in USB. Carlson Capital Management boosted its position in shares of U.S. Bancorp by 2.2% in the first quarter. Carlson Capital Management now owns 25,490 shares of the financial services provider’s stock worth $1,313,000 after buying an additional 539 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock worth $116,000 after buying an additional 475 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in shares of U.S. Bancorp by 1.4% in the first quarter. Capital Asset Advisory Services LLC now owns 7,390 shares of the financial services provider’s stock worth $381,000 after buying an additional 105 shares in the last quarter. Legacy Private Trust Co. boosted its position in shares of U.S. Bancorp by 1.5% in the first quarter. Legacy Private Trust Co. now owns 74,461 shares of the financial services provider’s stock worth $3,835,000 after buying an additional 1,069 shares in the last quarter. Finally, Pennsylvania Trust Co boosted its position in shares of U.S. Bancorp by 1.0% in the first quarter. Pennsylvania Trust Co now owns 233,400 shares of the financial services provider’s stock worth $12,020,000 after buying an additional 2,285 shares in the last quarter. 75.84% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on U.S. Bancorp in a research note on Wednesday. They issued a “market perform” rating and a $56.00 price objective on the stock. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $52.85.
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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