U.S. Bancorp (NYSE:USB) Sees Significant Drop in Short Interest

U.S. Bancorp (NYSE:USB) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 14,830,000 shares, a decline of 32.9% from the March 15th total of 22,090,000 shares. Based on an average daily volume of 11,540,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.0% of the shares of the stock are sold short.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $38.21 on Friday. The stock’s 50-day moving average price is $42.55 and its 200 day moving average price is $46.79. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $59.53 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.23%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Analyst Ratings Changes

USB has been the subject of a number of recent research reports. Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a research report on Thursday, April 3rd. DA Davidson cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.66.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated 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 approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On U.S. Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Winch Advisory Services LLC lifted its holdings in shares of U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the period. J.Safra Asset Management Corp acquired a new stake in U.S. Bancorp in the fourth quarter valued at $26,000. FPC Investment Advisory Inc. purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth $28,000. Global Wealth Strategies & Associates grew its stake in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Company Profile

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.