Gunjan Kedia Sells 27,267 Shares of U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.81 during midday trading on Monday, reaching $61.66. The company’s stock had a trading volume of 8,179,667 shares, compared to its average volume of 9,474,120. The business’s 50 day moving average price is $62.84 and its two-hundred day moving average price is $57.73. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $96.07 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the company earned $1.11 EPS. On average, analysts forecast that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s payout ratio is 41.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USB. JPMorgan Chase & Co. increased their price objective on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. DA Davidson upped their price target on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Oppenheimer increased their price target on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.06.

Institutional Trading of U.S. Bancorp

A number of institutional investors have recently bought and sold shares of the company. Inceptionr LLC lifted its stake in U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 22,348 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Keudell Morrison Wealth Management bought a new position in shares of U.S. Bancorp during the 4th quarter valued at about $2,856,000. Principal Financial Group Inc. raised its holdings in shares of U.S. Bancorp by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,769,589 shares of the financial services provider’s stock valued at $94,425,000 after buying an additional 49,733 shares in the last quarter. Finally, Mufg Bank LTD. bought a new stake in U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Institutional investors own 77.60% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.