Insider Selling: U.S. Bancorp (NYSE:USB) EVP Sells 26,909 Shares of Stock

Key Points

• U.S. Bancorp's EVP, James Chosy, sold 26,909 shares of stock for approximately $1.26 million, reducing his ownership by 10.62%.
• The company reported strong quarterly earnings with $1.22 EPS and a revenue of $7.34 billion, exceeding analyst expectations.
• U.S. Bancorp recently increased its dividend to $0.52 per share, reflecting a 4.4% yield and a payout ratio of 47.60%.

U.S. Bancorp (NYSE:USB - Get Free Report) EVP James Chosy sold 26,909 shares of the company's stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares of the company's stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

U.S. Bancorp Price Performance

Shares of USB traded up $0.54 during mid-day trading on Tuesday, hitting $47.64. 11,260,133 shares of the stock were exchanged, compared to its average volume of 10,436,516. The company has a market cap of $74.14 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.06. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a 50-day moving average of $47.98 and a two-hundred day moving average of $44.94. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analysts' expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is currently 47.60%.

Institutional Trading of U.S. Bancorp

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.4% in the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider's stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.3% in the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider's stock valued at $1,650,305,000 after purchasing an additional 456,890 shares during the period. Norges Bank acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $971,285,000. Amundi grew its holdings in U.S. Bancorp by 2.2% in the first quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock valued at $773,268,000 after purchasing an additional 422,050 shares during the period. Finally, Davis Selected Advisers grew its holdings in U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider's stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on USB shares. DA Davidson increased their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday. Evercore ISI raised their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. Cowen reissued a "buy" rating on shares of U.S. Bancorp in a report on Monday. Weiss Ratings restated a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $54.48.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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