Insider Selling: U.S. Bancorp (NYSE:USB) Insider Sells 25,000 Shares of Stock

U.S. Bancorp (NYSE:USB) insider Jodi L. Richard sold 25,000 shares of the firm’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 approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.03 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The company has a market capitalization of $74.95 billion, a P/E ratio of 15.90, a P/E/G ratio of 3.32 and a beta of 1.03. The firm’s 50 day simple moving average is $45.48 and its two-hundred day simple moving average is $42.73.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.16%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 66.23%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on USB shares. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, UBS Group raised their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.71.

Hedge Funds Weigh In On U.S. Bancorp

Several large investors have recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC raised its position in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.