Kent V. Stone Sells 51,798 Shares of U.S. Bancorp (USB) Stock
U.S. Bancorp (NYSE:USB) Vice Chairman Kent V. Stone sold 51,798 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $46.69, for a total transaction of $2,418,448.62. Following the completion of the transaction, the insider now directly owns 109,742 shares of the company’s stock, valued at approximately $5,123,853.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
U.S. Bancorp (NYSE:USB) opened at 48.70 on Wednesday. The company has a market capitalization of $82.77 billion, a P/E ratio of 15.08 and a beta of 0.80. The stock’s 50 day moving average is $43.92 and its 200-day moving average is $42.62. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $48.73.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.35 billion. U.S. Bancorp had a net margin of 26.24% and a return on equity of 13.92%. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, analysts expect that U.S. Bancorp will post $3.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 2.30%. U.S. Bancorp’s payout ratio is 34.68%.
Institutional investors have recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of U.S. Bancorp by 0.4% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,955 shares of the financial services provider’s stock worth $127,000 after buying an additional 11 shares during the period. Credit Suisse AG increased its position in shares of U.S. Bancorp by 76.5% in the third quarter. Credit Suisse AG now owns 18,346,041 shares of the financial services provider’s stock worth $786,862,000 after buying an additional 7,952,199 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of U.S. Bancorp by 9.1% in the third quarter. Ameritas Investment Partners Inc. now owns 121,336 shares of the financial services provider’s stock worth $5,203,000 after buying an additional 10,117 shares during the period. Pioneer Investment Management Inc. increased its position in shares of U.S. Bancorp by 43.0% in the third quarter. Pioneer Investment Management Inc. now owns 6,738,805 shares of the financial services provider’s stock worth $289,027,000 after buying an additional 2,025,623 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its position in shares of U.S. Bancorp by 21.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 118,878 shares of the financial services provider’s stock worth $5,099,000 after buying an additional 20,740 shares during the period. 72.93% of the stock is currently owned by institutional investors.
USB has been the subject of several recent analyst reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Jefferies Group reaffirmed a “hold” rating and issued a $44.00 target price on shares of U.S. Bancorp in a report on Wednesday, August 10th. Finally, Wedbush initiated coverage on shares of U.S. Bancorp in a report on Thursday, October 6th. They issued a “neutral” rating and a $46.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $45.65.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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