U.S. Bancorp (NYSE:USB) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 17,033,700 shares, a drop of 6.1% from the May 30th total of 18,149,200 shares. Based on an average daily volume of 5,290,000 shares, the short-interest ratio is currently 3.2 days. Approximately 1.1% of the company’s stock are short sold.
In other news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the sale, the insider now directly owns 39,330 shares in the company, valued at approximately $2,026,674.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The disclosure for this sale can be found here. Insiders have sold a total of 37,233 shares of company stock worth $1,907,734 in the last three months. Insiders own 0.24% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Trustcore Financial Services LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at approximately $28,000. Executive Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $27,000. Catamount Wealth Management increased its holdings in shares of U.S. Bancorp by 525.0% during the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 630 shares in the last quarter. ERTS Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $36,000. Finally, New Potomac Partners LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth $37,000. 74.63% of the stock is owned by institutional investors.
USB stock traded down $0.41 during trading on Monday, reaching $53.19. The company had a trading volume of 47,540 shares, compared to its average volume of 4,606,400. The business has a 50-day simple moving average of $52.26. The firm has a market cap of $85.33 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.84. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $55.56.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.00. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.62 billion. During the same period last year, the firm posted $0.96 EPS. U.S. Bancorp’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts expect that U.S. Bancorp will post 4.26 earnings per share for the current year.
U.S. Bancorp declared that its board has initiated a share repurchase program on Thursday, June 27th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, June 27th. U.S. Bancorp’s dividend payout ratio is presently 36.10%.
A number of research firms have recently weighed in on USB. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price target on the stock. Oppenheimer set a $15.00 price target on shares of Strongbridge Biopharma and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.75.
About U.S. Bancorp
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.
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