Andrew Cecere Sells 102,044 Shares of U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.69 on Friday. The firm’s 50 day simple moving average is $49.33 and its two-hundred day simple moving average is $47.42. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $74.40 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.77 and a beta of 1.04. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Research analysts expect that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USB. FMR LLC boosted its position in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. lifted its stake in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of U.S. Bancorp during the 4th quarter valued at about $184,733,000. Los Angeles Capital Management LLC grew its position in shares of U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after purchasing an additional 2,821,642 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

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.