U.S. Bancorp (USB) EVP Craig E. Gifford Sells 300 Shares of Stock
U.S. Bancorp (NYSE:USB) EVP Craig E. Gifford sold 300 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $53.09, for a total transaction of $15,927.00. Following the sale, the executive vice president now directly owns 41,264 shares of the company’s stock, valued at $2,190,705.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of U.S. Bancorp (USB) traded down 0.63% during midday trading on Friday, hitting $52.05. 4,448,688 shares of the stock were exchanged. The firm has a market cap of $87.07 billion, a P/E ratio of 15.73 and a beta of 0.86. The stock’s 50 day moving average is $52.32 and its 200 day moving average is $52.55. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. On average, equities research analysts forecast that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 2.15%. U.S. Bancorp’s dividend payout ratio is 33.63%.
U.S. Bancorp announced that its board has initiated a stock repurchase 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 purchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages recently weighed in on USB. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research report on Wednesday. They set a “market perform” rating and a $56.00 price target for the company. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research report on Thursday, April 20th. Finally, Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $52.85.
A number of hedge funds have recently bought and sold shares of the company. Stelac Advisory Services LLC bought a new stake in U.S. Bancorp during the second quarter valued at about $103,000. Orrstown Financial Services Inc. raised its stake in 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 valued at $116,000 after buying an additional 475 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in U.S. Bancorp during the first quarter valued at about $155,000. Finally, WealthTrust Arizona LLC raised its stake in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.
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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