U.S. Bancorp (NYSE:USB) Chairman Sells $6,508,221.30 in Stock

Key Points

• U.S. Bancorp's Chairman, Andrew Cecere, sold 140,445 shares of the company's stock for a total of $6,508,221.30, representing a 9.36% decrease in his overall position.
• The company reported an earnings per share (EPS) of $1.22 for the quarter, exceeding analysts' expectations, with revenue of $7.34 billion, marking a 6.8% year-over-year increase.
• U.S. Bancorp recently raised its quarterly dividend to $0.52 per share, up from $0.50, reflecting a commitment to returning value to shareholders with a yield of 4.4%.

U.S. Bancorp (NYSE:USB - Get Free Report) Chairman Andrew Cecere sold 140,445 shares of the business's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company's stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

U.S. Bancorp Trading Up 1.1%

Shares of U.S. Bancorp stock traded up $0.54 during midday trading on Tuesday, reaching $47.64. 11,260,133 shares of the company's stock traded hands, compared to its average volume of 10,436,516. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. 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. The stock has a 50 day moving average of $47.98 and a 200-day moving average of $44.94. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

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

U.S. Bancorp Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on USB. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. TD Cowen increased their target price on U.S. Bancorp from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday. Weiss Ratings reissued a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. UBS Group increased their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company a "buy" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $54.48.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC grew its position in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after purchasing an additional 36,863 shares in the last quarter. GAMMA Investing LLC grew its position in shares of U.S. Bancorp by 0.9% during the first quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider's stock worth $1,548,000 after purchasing an additional 333 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of U.S. Bancorp by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 217,657 shares of the financial services provider's stock worth $9,189,000 after purchasing an additional 17,630 shares in the last quarter. Continuum Advisory LLC grew its position in shares of U.S. Bancorp by 9.0% during the first quarter. Continuum Advisory LLC now owns 8,171 shares of the financial services provider's stock worth $345,000 after purchasing an additional 677 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in U.S. Bancorp by 75.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 227,832 shares of the financial services provider's stock valued at $9,619,000 after buying an additional 97,957 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

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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