U.S. Bancorp (USB) Sees Unusually-High Trading Volume
U.S. Bancorp (NYSE:USB) saw unusually-strong trading volume on Thursday . Approximately 5,927,003 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 7,085,478 shares.The stock last traded at $41.31 and had previously closed at $40.63.
Several research analysts have weighed in on USB shares. Robert W. Baird boosted their price objective on U.S. Bancorp from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, March 28th. Keefe, Bruyette & Woods cut their price objective on U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 5th. Compass Point lowered their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, April 21st. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Finally, Deutsche Bank AG restated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.00.
The company has a market capitalization of $71.21 billion and a P/E ratio of 13.05. The firm’s 50 day moving average is $41.18 and its 200 day moving average is $40.80.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 20th. The financial services provider reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. The company earned $5.04 billion during the quarter, compared to the consensus estimate of $5.06 billion. U.S. Bancorp’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. On average, equities analysts predict that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.255 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.02 dividend on an annualized basis and a yield of 2.47%.
In other U.S. Bancorp news, Vice Chairman Terrance R. Dolan sold 7,000 shares of the firm’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $43.05, for a total transaction of $301,350.00. Following the sale, the insider now directly owns 68,795 shares of the company’s stock, valued at $2,961,624.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew Cecere sold 321,691 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $43.53, for a total value of $14,003,209.23. Following the sale, the chief operating officer now directly owns 856,974 shares in the company, valued at $37,304,078.22. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of USB. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 92,732,849 shares of the financial services provider’s stock worth $3,956,910,000 after buying an additional 1,547,219 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of U.S. Bancorp by 2.6% in the fourth quarter. California Public Employees Retirement System now owns 5,099,369 shares of the financial services provider’s stock valued at $217,590,000 after buying an additional 130,900 shares during the period. Standard Life Investments LTD boosted its stake in shares of U.S. Bancorp by 12.2% in the fourth quarter. Standard Life Investments LTD now owns 4,024,321 shares of the financial services provider’s stock valued at $171,657,000 after buying an additional 436,321 shares during the period. Atlantic Trust Group LLC boosted its stake in shares of U.S. Bancorp by 3.3% in the fourth quarter. Atlantic Trust Group LLC now owns 2,472,765 shares of the financial services provider’s stock valued at $105,513,000 after buying an additional 78,742 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of U.S. Bancorp by 26.3% in the fourth quarter. Bank of Montreal Can now owns 2,395,540 shares of the financial services provider’s stock valued at $102,218,000 after buying an additional 498,421 shares during the period.
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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