U.S. Bancorp (NYSE:USB) Short Interest Update

Key Points

• U.S. Bancorp experienced a dramatic increase in short interest of 2,341.3% in July, reaching a total of 20,290,000 shares as of July 15th, compared to only 831,100 shares on June 30th.
• The company reported a quarterly earnings per share of $1.11, exceeding analysts' expectations of $1.07 and marking a year-over-year revenue increase of 2.0%.
• U.S. Bancorp announced a quarterly dividend of $0.50, translating to an annual yield of 4.6% and a payout ratio of 47.85%.

U.S. Bancorp (NYSE:USB - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 20,290,000 shares, agrowthof2,341.3% from the June 30th total of 831,100 shares. Based on an average daily trading volume, of 10,090,000 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 10,090,000 shares, the short-interest ratio is presently 2.0 days.

U.S. Bancorp Trading Down 2.4%

Shares of USB traded down $1.06 during mid-day trading on Friday, reaching $43.90. The company's stock had a trading volume of 9,533,250 shares, compared to its average volume of 10,904,780. The stock has a market cap of $68.40 billion, a PE ratio of 10.50, a P/E/G ratio of 1.44 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company's fifty day moving average price is $45.15 and its two-hundred day moving average price is $44.15.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the business posted $0.98 EPS. The business's quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.6%. U.S. Bancorp's dividend payout ratio is 47.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Evercore ISI lifted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Cowen began coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Piper Sandler decreased their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after acquiring an additional 4,663,518 shares during the last quarter. Nuveen LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth approximately $138,183,000. FMR LLC boosted its holdings in shares of U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after buying an additional 3,211,815 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

About U.S. Bancorp

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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