Stock Traders Purchase High Volume of Put Options on U.S. Bancorp (USB)
U.S. Bancorp (NYSE:USB) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 9,229 put options on the company. This is an increase of approximately 141% compared to the typical volume of 3,837 put options.
Several equities analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, June 9th. BidaskClub downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. 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 report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $52.85.
Several large investors have recently added to or reduced their stakes in the stock. Investment Partners Ltd. OH ADV raised its stake in U.S. Bancorp by 33.6% in the first quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock worth $415,000 after buying an additional 2,024 shares during the period. Coastline Trust Co raised its stake in U.S. Bancorp by 0.4% in the first quarter. Coastline Trust Co now owns 78,015 shares of the financial services provider’s stock worth $4,018,000 after buying an additional 290 shares during the period. West Coast Financial LLC raised its stake in U.S. Bancorp by 18.2% in the first quarter. West Coast Financial LLC now owns 7,761 shares of the financial services provider’s stock worth $400,000 after buying an additional 1,193 shares during the period. Nelson Roberts Investment Advisors LLC raised its stake in U.S. Bancorp by 0.3% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock worth $6,198,000 after buying an additional 320 shares during the period. Finally, Vicus Capital raised its stake in U.S. Bancorp by 58.6% in the first quarter. Vicus Capital now owns 8,869 shares of the financial services provider’s stock worth $457,000 after buying an additional 3,276 shares during the period. Hedge funds and other institutional investors own 76.25% of the company’s stock.
Shares of U.S. Bancorp (USB) opened at 52.07 on Friday. The company’s 50 day moving average is $52.40 and its 200-day moving average is $52.49. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61. The company has a market capitalization of $87.10 billion, a PE ratio of 15.73 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the company posted $0.82 EPS. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp announced that its board has approved a share repurchase plan 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 buy up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
About U.S. Bancorp
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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