Insider Selling: U.S. Bancorp (NYSE:USB) CEO Sells $1,700,642.79 in Stock

U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

U.S. Bancorp Trading Up 2.6%

NYSE:USB opened at $62.79 on Thursday. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The business has a 50 day moving average price of $62.98 and a two-hundred day moving average price of $57.79. The company has a market cap of $97.84 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the firm posted $1.11 EPS. As a group, analysts expect that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a report on Friday, July 31st. Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Monday, July 20th. BTIG Research set a $67.50 price objective on U.S. Bancorp in a report on Monday, July 20th. Morgan Stanley upped their target price on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Stephens lifted their price target on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

Institutional Investors Weigh In On U.S. Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its position in shares of U.S. Bancorp by 5,893.0% in the second quarter. California State Teachers Retirement System now owns 142,640,580 shares of the financial services provider’s stock worth $8,615,491,000 after purchasing an additional 140,260,472 shares during the period. State Street Corp grew its stake in U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after buying an additional 522,368 shares in the last quarter. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $2,680,199,000. Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after buying an additional 443,646 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $1,887,497,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.