U.S. Bancorp (NYSE:USB) experienced a significant decrease in short interest during the month of August, according to recent data. As of August 15th, the total number of short interest shares stood at 33,130,000, representing a decline of 17.7% from the previous month’s total of 40,250,000 shares. The days-to-cover ratio currently stands at 2.5 days, based on an average daily volume of 13,440,000 shares.
On Monday, August 28th, NYSE:USB opened at $35.51. The company’s stock has been experiencing fluctuations with a 50-day moving average of $36.30 and a 200-day moving average of $36.45. U.S. Bancorp has a market capitalization value of $54.44 billion, with a price-to-earnings ratio of 9.84 and a PEG ratio of 1.63. The company also has a beta of 0.97.
Over the past year, U.S. Bancorp’s stock has seen a low point at $27.27 and reached its highest point at $49.95.
In related news, CFO Terrance R. Dolan recently sold 26,000 shares of U.S Bancorp stock on August 8th for an average price of $39.75 per share and a total value of $1,033,5000.
Another insider trade saw Timothy A Welsh selling 13,816 shares on August 10th at an average price of $39.79 per share for a total value of $54973864.
The recent sales by Terrance R Dolan and Timothy A Welsh were disclosed in legal filings with the Securities and Exchange Commission (SEC). The filings are accessible through the provided hyperlinks.
Furthermore,during Tuesday July17th,the business announced its quarterly dividend. Shareholders of record on Friday, June 30th received a dividend payment of $0.48 per share. The ex-dividend date was June 29th.
Considering the dividend payout ratio (DPR), which currently stands at 53.19%, U.S Bancorp paid an annualized dividend of $1.92 per share with a yield of 5.41%.
It is worth noting that company insiders own 0.24% of U.S Bancorp’s stock.
Mixed Reactions to U.S. Bancorp’s Quarterly Earnings Report and Executive Stock Sales
U.S. Bancorp (NYSE:USB) reported its quarterly earnings on Wednesday, July 19th, and the results were met with mixed reactions from analysts. The financial services provider’s earnings per share (EPS) for the quarter came in at $1.12, slightly lower than analysts’ consensus estimates of $1.13.
The company generated a revenue of $7.17 billion during the quarter, which was in line with analysts’ expectations. However, it is worth noting that U.S. Bancorp experienced a significant increase of 19.7% in revenue on a year-over-year basis.
Despite missing EPS estimates by a small margin, U.S. Bancorp still maintained a strong return on equity of 16.53% and a net margin of 16.59%. These figures indicate that the company remains financially stable and continues to generate profits.
In other news, CFO Terrance R. Dolan sold 26,000 shares of U.S.Bancorp stock on Tuesday, August 8th, at an average price of $39.75 per share. This transaction amounted to a total value of $1,033,500.00.The Chief Financial Officer now holds 166,992 shares, valued at approximately $6,637,932.
Another executive insider Timothy A.Welsh also sold 13,816 shares of U.S.Bancorp stock on Thursday,August 10th.This stock was sold at an average price of $39.79 per share.This transaction amounted to a total value of $549738.A similar transaction was undertaken by CFO Terrence R.Dolan who sold 26k shares again for an amount totalling $1033500.In both cases,the executives still hold significant shares in the company after the transactions were concluded.This move could be interpreted as an opportunity to take profit rather than reflecting any negative sentiment regarding future performance
When looking at analyst recommendations, U.S. Bancorp has received mixed ratings. TheStreet downgraded the stock from a “b-” to a “c+” rating in a report on May 2nd, while DA Davidson raised its target price from $39.00 to $41.00 and gave the company a “neutral” rating on July 24th. Credit Suisse Group also maintained a “neutral” rating with a target price of $44.00.
Odeon Capital Group, on the other hand, lowered U.S.Bancorps rating by downgrading it from a “buy” to a “hold” status in their June 23rd report. Wedbush raised their target price to $40.00 and assigned a “neutral” rating in their July 20th analysis.
It is important to note that Bloomberg.com data shows an average consensus rating of “Hold” for U.S. Bancorp, indicating that analysts have varying opinions on the stock’s potential performance. The consensus price target is set at $48.20.
In conclusion, U.S.Bancorp’s recent earnings report displayed some minor deviations from analysts’ expectations.The company witnessed an increase of 19.7% in revenue compared to the same period last year which demonstrates strong growth.However,the slight miss in EPS along with executive stock sales has drawn attention from industry watchers.It remains important for investors and market participants to closely monitor further developments within U.S Bancorp and weigh differing opinions before making investment decisions.
Source: beststocks.com
