Traders Sell Shares of U.S. Bancorp (USB) on Strength (USB)
Investors sold shares of U.S. Bancorp (NYSE:USB) on strength during trading on Thursday. $23.67 million flowed into the stock on the tick-up and $43.16 million flowed out of the stock on the tick-down, for a money net flow of $19.49 million out of the stock. Of all companies tracked, U.S. Bancorp had the 0th highest net out-flow for the day. U.S. Bancorp traded up $0.03 for the day and closed at $39.23
USB has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating on the stock in a research report on Tuesday. Deutsche Bank AG reissued a “hold” rating on shares of U.S. Bancorp in a research report on Sunday, June 26th. Piper Jaffray Cos. reissued an “overweight” rating and set a $49.00 target price (up previously from $48.00) on shares of U.S. Bancorp in a research report on Saturday, April 23rd. Robert W. Baird downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $42.00 in a research report on Thursday, April 21st. They noted that the move was a valuation call. Finally, Compass Point cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, April 21st. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $46.00.
The stock’s 50-day moving average is $41.39 and its 200-day moving average is $40.88. The stock has a market capitalization of $67.73 billion and a PE ratio of 12.41.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $0.76 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company earned $5.04 billion during the quarter, compared to analysts’ expectations of $5.06 billion. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that U.S. Bancorp will post $3.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $1.02 annualized dividend and a yield of 2.60%.
In other U.S. Bancorp news, EVP Jennie P. Carlson sold 31,471 shares of the stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $42.96, for a total value of $1,351,994.16. Following the transaction, the executive vice president now directly owns 36,371 shares in the company, valued at $1,562,498.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Omaley sold 55,317 shares of the stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $42.52, for a total transaction of $2,352,078.84. Following the completion of the transaction, the director now owns 339,419 shares in the company, valued at $14,432,095.88. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in USB. Madrona Financial Services LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $1,759,000. Westport Resources Management Inc. raised its position in shares of U.S. Bancorp by 3.1% in the fourth quarter. Westport Resources Management Inc. now owns 46,780 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 1,390 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of U.S. Bancorp by 40.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,490,003 shares of the financial services provider’s stock valued at $106,248,000 after buying an additional 714,783 shares in the last quarter. Goelzer Investment Management Inc. raised its position in shares of U.S. Bancorp by 7.2% in the fourth quarter. Goelzer Investment Management Inc. now owns 117,663 shares of the financial services provider’s stock valued at $5,021,000 after buying an additional 7,889 shares in the last quarter. Finally, B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $3,287,000.
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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