Gunjan Kedia Sells 27,267 Shares of U.S. Bancorp (NYSE:USB) Stock

U.S. Bancorp (NYSE:USB) CEO Gunjan Kedia sold 27,267 shares of the company’s 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 transaction, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

U.S. Bancorp Stock Down 0.7%

Shares of NYSE USB opened at $61.17 on Wednesday. The company has a 50 day simple moving average of $62.92 and a 200 day simple moving average of $57.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The firm has a market cap of $95.31 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.09 and a beta of 0.95.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.58 billion. During the same period in the previous year, the firm posted $1.11 EPS. On average, research analysts forecast that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. UBS Group increased their price target on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of U.S. Bancorp in a research note on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of U.S. Bancorp in a report on Monday, August 24th. Citigroup reissued a “buy” rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $67.06.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp is expanding its business-banking operations into Florida and Georgia and adding bankers in Texas and Arizona. The initiative could broaden the company’s commercial customer base, increase loan and deposit growth, and diversify revenue geographically if it generates sustainable relationships and returns. Can USB Turn Its Business Banking Expansion Into Sustainable Growth?
• Neutral Sentiment: The company’s latest reported quarter showed solid execution: earnings per share of $1.35 exceeded the $1.28 consensus estimate, while revenue of $7.69 billion topped expectations of $7.58 billion. Analysts currently forecast approximately $5.22 in full-year EPS, and the stock retains a consensus “Moderate Buy” rating with an average price target of $67.06. U.S. Bancorp Q2 Earnings Highlights
• Neutral Sentiment: U.S. Bancorp continues to offer income support through its quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a yield of roughly 3.4%. Its payout ratio of about 42% suggests the dividend is supported by current earnings, although future increases will depend on profitability and capital requirements.
• Negative Sentiment: CEO Gunjan Kedia sold 27,267 shares for approximately $1.7 million, reducing her direct ownership by 6.01%. Although the transaction may have been personal or routine, insider selling can weigh on sentiment because it signals that an executive is taking profits rather than adding exposure. Gunjan Kedia Sells U.S. Bancorp Shares

Institutional Investors Weigh In On U.S. Bancorp

A number of large investors have recently bought and sold shares of USB. Corient Private Wealth LP boosted its position in shares of U.S. Bancorp by 4.4% during the 2nd quarter. Corient Private Wealth LP now owns 446,932 shares of the financial services provider’s stock worth $27,002,000 after purchasing an additional 18,840 shares in the last quarter. Advus Financial Partners LLC bought a new stake in U.S. Bancorp in the 2nd quarter valued at about $203,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in U.S. Bancorp in the 2nd quarter valued at about $42,966,000. California State Teachers Retirement System raised its stake in U.S. Bancorp by 5,893.0% during the 2nd 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 buying an additional 140,260,472 shares during the period. Finally, Alan B Lancz & Associates Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $217,000. 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.