U.S. Bancorp (NYSE:USB) Insider Sells $1,225,750.00 in Stock

U.S. Bancorp (NYSE:USB) insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

U.S. Bancorp Stock Up 1.0 %

Shares of NYSE:USB opened at $48.53 on Thursday. The company’s fifty day moving average is $45.61 and its 200-day moving average is $42.77. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The company has a market capitalization of $75.73 billion, a PE ratio of 16.07, a P/E/G ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.12%. U.S. Bancorp’s payout ratio is presently 66.23%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Barclays upped their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Citigroup raised their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $50.71.

Institutional Trading of U.S. Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $30,000. LRI Investments LLC bought a new position in U.S. Bancorp in the 1st quarter worth approximately $31,000. Eagle Bay Advisors LLC lifted its holdings in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the 2nd quarter valued at $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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.