U.S. Bancorp (NYSE: USB) stock jumped 0.74% on Tuesday to $31.14 against a previous-day closing price of $30.91. With 13.95 million shares changed hands, the volume of the stock remained lighter than its average volume of 18.98 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $32.10 whereas the lowest price it dropped to was $31.00. The 52-week range on USB shows that it touched its highest point at $53.37 and its lowest point at $27.27 during that stretch. It currently has a 1-year price target of $44.23. With its current market cap of 48.34 billion, USB has annualized dividend of $1.92 while the current yield stands at 6.17%. Beta for the stock currently stands at 0.96.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of USB was up-trending over the past week, with a rise of 8.58%, but this was down by -5.03% over a month. Three-month performance dropped to -34.50% while six-month performance fell -28.22%. The stock lost -36.72% in the past year, while it has lost -28.59% so far this year. A look at the trailing 12-month EPS for USB yields 3.75 with Next year EPS estimates of 4.75. For the next quarter, that number is 1.17. This implies an EPS growth rate of -27.70% for this year and 2.46% for next year. EPS is expected to grow by 3.85% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 4.40%.
Float and Shares Shorts:
At present, 1.53 billion USB shares are outstanding with a float of 1.53 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 35.84 million, which was 2.34% higher than short shares on Mar 30, 2023. In addition to Mr. Andrew J. Cecere as the firm’s Chairman, Pres & CEO, Mr. Terrance R. Dolan serves as its Vice Chair & CFO.
Through their ownership of 77.19% of USB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.83% of USB, in contrast to 38.83% held by mutual funds. Shares owned by individuals account for 10.48%. As the largest shareholder in USB with 7.42% of the stake, The Vanguard Group, Inc. holds 113,665,317 shares worth 113,665,317. A second-largest stockholder of USB, BlackRock Fund Advisors, holds 71,487,300 shares, controlling over 4.67% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in USB, holding 59,027,858 shares or 3.86% stake. With a 3.10% stake in USB, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 47,399,529 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.12% of USB stock, is the second-largest Mutual Fund holder. It holds 32,525,549 shares valued at 1.11 billion. Schwab US Dividend Equity ETF holds 1.30% of the stake in USB, owning 19,897,399 shares worth 682.08 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for USB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With USB analysts setting a high price target of $67.00 and a low target of $32.00, the average target price over the next 12 months is $43.34. Based on these targets, USB could surge 115.16% to reach the target high and rise by 2.76% to reach the target low. Reaching the average price target will result in a growth of 39.18% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded USB stock several times over the past three months with 15 Buys and 26 Sells. In these transactions, 437,477 shares were bought while 83,555 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 1,015,344 while 428,775 shares were sold.