Traders Sell U.S. Bancorp (USB) on Strength (USB)
Investors sold shares of U.S. Bancorp (NYSE:USB) on strength during trading hours on Wednesday. $46.16 million flowed into the stock on the tick-up and $86.32 million flowed out of the stock on the tick-down, for a money net flow of $40.16 million out of the stock. Of all companies tracked, U.S. Bancorp had the 14th highest net out-flow for the day. U.S. Bancorp traded up $0.47 for the day and closed at $52.04
A number of equities analysts have weighed in on the company. Wells Fargo & Company assumed coverage on U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target for the company. BidaskClub cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a report on Friday, June 9th. Argus upgraded 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. restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.50.
The firm has a market capitalization of $87.05 billion, a P/E ratio of 15.72 and a beta of 0.87. The company’s 50-day moving average is $52.07 and its 200-day moving average is $52.20.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The company 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 in the previous year, the business posted $0.82 EPS. On average, 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 stock buyback program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of USB. Waldron LP bought a new position in U.S. Bancorp in the 1st quarter worth approximately $323,000. Mechanics Bank Trust Department bought a new position in U.S. Bancorp in the 1st quarter worth approximately $201,000. BTIM Corp. increased its position in U.S. Bancorp by 4.6% in the 1st quarter. BTIM Corp. now owns 1,459,268 shares of the financial services provider’s stock worth $75,152,000 after buying an additional 64,275 shares during the period. First Manhattan Co. increased its position in U.S. Bancorp by 8.7% in the 1st quarter. First Manhattan Co. now owns 2,175,815 shares of the financial services provider’s stock worth $93,320,000 after buying an additional 173,309 shares during the period. Finally, Sigma Planning Corp increased its position in U.S. Bancorp by 63.4% in the 1st quarter. Sigma Planning Corp now owns 36,297 shares of the financial services provider’s stock worth $1,869,000 after buying an additional 14,078 shares during the period. 74.21% of the stock is currently owned by institutional investors.
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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