U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia Sells 27,267 Shares

U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

U.S. Bancorp Stock Down 1.3%

Shares of USB traded down $0.81 during mid-day trading on Monday, hitting $61.66. 8,179,667 shares of the company’s stock were exchanged, compared to its average volume of 9,474,120. The company has a 50-day simple moving average of $62.84 and a 200 day simple moving average of $57.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $96.07 billion, a PE ratio of 12.31, a P/E/G ratio of 1.02 and a beta of 0.96. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s payout ratio is 41.52%.

Analyst Ratings Changes

Several research firms have issued reports on USB. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. DA Davidson upped their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. Truist Financial upped their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, Morgan Stanley raised their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of USB. Brighton Jones LLC boosted its stake in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC increased its position in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC increased its position in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 6,252 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth $425,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth $701,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.