Insider Selling: U.S. Bancorp (USB) Vice Chairman Sells $1,012,200.00 in Stock
U.S. Bancorp (NYSE:USB) Vice Chairman James B. Kelligrew sold 20,000 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the transaction, the insider now owns 49,495 shares of the company’s stock, valued at approximately $2,504,941.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of USB opened at $51.21 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $81.95 billion, a PE ratio of 12.49, a P/E/G ratio of 1.71 and a beta of 1.06. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $55.56.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.00. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.28 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. HC Financial Advisors Inc. grew its stake in U.S. Bancorp by 5.2% in the 3rd quarter. HC Financial Advisors Inc. now owns 42,967 shares of the financial services provider’s stock valued at $2,269,000 after acquiring an additional 2,143 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of U.S. Bancorp by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,961,974 shares of the financial services provider’s stock worth $842,951,000 after purchasing an additional 94,114 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of U.S. Bancorp by 94.6% during the 3rd quarter. Verition Fund Management LLC now owns 17,674 shares of the financial services provider’s stock worth $933,000 after purchasing an additional 8,594 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of U.S. Bancorp by 19.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 91,044 shares of the financial services provider’s stock worth $4,808,000 after purchasing an additional 14,858 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $335,000. Institutional investors and hedge funds own 75.82% of the company’s stock.
A number of brokerages have commented on USB. Robert W. Baird downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research report on Monday, January 28th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Jefferies Financial Group downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Barclays upped their price objective on shares of U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $58.18.
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U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Further Reading: Average Daily Trade Volume Explained
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