U.S. Bancorp (NYSE:USB) Short Interest Update


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U.S. Bancorp (NYSE:USB) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 11,780,000 shares, a decrease of 18.1% from the March 31st total of 14,390,000 shares. Based on an average trading volume of 7,730,000 shares, the short-interest ratio is presently 1.5 days. Currently, 0.8% of the shares of the stock are short sold.

In other U.S. Bancorp news, CFO Terrance R. Dolan sold 19,149 shares of the company’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $59.11, for a total value of $1,131,897.39. Following the sale, the chief financial officer now owns 138,374 shares in the company, valued at approximately $8,179,287.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark G. Runkel sold 9,058 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $56.85, for a total value of $514,947.30. Following the completion of the sale, the executive vice president now owns 36,572 shares in the company, valued at $2,079,118.20. The disclosure for this sale can be found here. Insiders sold a total of 251,779 shares of company stock valued at $14,319,060 over the last quarter. 0.23% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Vantage Consulting Group Inc bought a new position in U.S. Bancorp during the fourth quarter worth about $27,000. Field & Main Bank bought a new position in U.S. Bancorp in the 4th quarter worth approximately $27,000. Diversified LLC purchased a new position in U.S. Bancorp in the 4th quarter valued at approximately $28,000. Salem Investment Counselors Inc. raised its holdings in U.S. Bancorp by 92.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 288 shares during the period. Finally, Kathmere Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the third quarter worth $31,000. Institutional investors and hedge funds own 71.73% of the company’s stock.

A number of research analysts recently issued reports on USB shares. JPMorgan Chase & Co. boosted their target price on shares of U.S. Bancorp from $60.00 to $64.50 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of U.S. Bancorp from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 1st. Credit Suisse Group upped their price target on U.S. Bancorp from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, April 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on U.S. Bancorp from $63.00 to $65.00 in a report on Wednesday, April 21st. Finally, Jefferies Financial Group upped their price objective on shares of U.S. Bancorp from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.15.

NYSE USB traded up $1.31 during trading hours on Tuesday, reaching $60.60. 7,497,167 shares of the company were exchanged, compared to its average volume of 7,706,263. The stock has a market capitalization of $91.06 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.26 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. U.S. Bancorp has a 1 year low of $28.36 and a 1 year high of $60.65. The business’s 50 day simple moving average is $56.51 and its 200-day simple moving average is $48.42.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 14th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.49. U.S. Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. U.S. Bancorp’s revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.68 annualized dividend and a dividend yield of 2.77%. U.S. Bancorp’s payout ratio is 38.71%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

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