Mark G. Runkel sells 35,374 shares of US Bancorp (NYSE: USB)
US Bancorp (NYSE: USB) EVP Mark G. Runkel sold 35,374 shares of the company in a transaction that took place on Thursday, May 6. The stock was sold for an average price of $ 60.76, for a total value of $ 2,149,324.24. Following the closing of the sale, the Executive Vice President now owns 56,637 shares of the company, valued at $ 3,441,264.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
USB Stock traded down $ 0.07 during the Friday midday session, to hit $ 61.37. The company’s shares had a trading volume of 5,842,935 shares, compared to an average volume of 7,630,282. US Bancorp has a 52-week low of $ 28.36 and a 52-week high of $ 61.48. The stock has a market cap of $ 92.21 billion, a PE ratio of 20.32, a price / earnings-growth ratio of 2.26, and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt ratio of 0.90. The company’s 50-day simple moving average is $ 56.87 and its 200-day simple moving average is $ 48.74.
US Bancorp (NYSE: USB) last reported its quarterly results on Wednesday, April 14. The financial services provider reported earnings per share of $ 1.45 for the quarter, beating consensus analysts’ estimates of $ 0.96 by $ 0.49. The company posted revenue of $ 5.47 billion for the quarter, compared to analysts’ expectations of $ 5.53 billion. US Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The company’s quarterly revenue is down 5.2% from the same quarter last year. During the same period last year, the company posted earnings per share of $ 0.72. As a group, equity analysts expect US Bancorp to post earnings per share of 3.06 for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15. Investors of record on Wednesday March 31 received a dividend of $ 0.42 per share. The ex-dividend date of this dividend was Tuesday, March 30. This represents a dividend of $ 1.68 on an annualized basis and a dividend yield of 2.74%. US Bancorp’s payout ratio is 38.71%.
USB has been the subject of a number of research analyst reports. Morgan Stanley raised its price target on US Bancorp from $ 58.00 to $ 60.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 22. Credit Suisse Group raised its price target on US Bancorp from $ 56.00 to $ 57.00 and gave the company a “neutral” rating in a research report on Thursday, April 22. Jefferies Financial Group increased its price target on US Bancorp from $ 55.00 to $ 66.00 and gave the company a “buy” rating in a research report on Friday, April 9. Bank of America raised US Bancorp from an “underperforming” rating to a “neutral” rating and raised its price target for the company from $ 58.00 to $ 62.00 in a research report on Monday April 19. Finally, Barclays raised its price target on US Bancorp from $ 61.00 to $ 65.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7. Five research analysts rated the stock with a maintenance rating, eleven gave the stock a buy rating, and one gave the stock a high buy rating. The stock currently has an average rating of “Buy” and an average target price of $ 57.59.
Several large investors have recently changed their holdings to USB. Norges Bank acquired a new equity interest in US Bancorp during the fourth quarter valued at $ 673,915,000. The Healthcare of Ontario Pension Trust Fund increased its stake in US Bancorp by 1,964.0% in the fourth quarter. The Ontario Health Care Pension Plan Trust Fund now holds 1,862,914 shares of the financial services provider valued at $ 86,793,000 after purchasing an additional 1,772,656 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in US Bancorp by 102.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,075,830 shares of the financial services provider valued at $ 170,124,000 after purchasing an additional 1,552,902 shares in the last quarter. Coho Partners Ltd. increased its stake in US Bancorp by 36.5% in the 4th quarter. Coho Partners Ltd. now owns 5,273,903 shares of the financial services provider valued at $ 245,711,000 after purchasing an additional 1,410,994 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its stake in US Bancorp by 518.8% in the 4th quarter. Brandywine Global Investment Management LLC now owns 1,617,721 shares of the financial services provider valued at $ 75,370,000 after purchasing an additional 1,356,292 shares in the last quarter. Institutional investors and hedge funds hold 71.73% of the company’s shares.
About US Bancorp
US Bancorp, a financial services holding company, provides various financial services in the United States. It operates in the areas of corporate and corporate banking, consumer and corporate banking, wealth management and investment services, payment and treasury services and business support. . The company offers depository services, including checking accounts, savings accounts and time certificate contracts; loan services, such as traditional credit products; and credit card services, leasing and import / export trade, asset-backed loans, agricultural finance and other products.
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7 things to watch out for when student debt forgiveness is enacted
Now that the Biden administration is fully in the driver’s seat, student debt cancellation has come to the fore. Consider these numbers. Student debt is estimated at $ 1.7 trillion. The average student carries around $ 30,000 in student loans.
If $ 10,000 in student debt were to be forgiven, it is estimated that a third of borrowers (between $ 15 million and $ 16.3 million) would become debt free. Of course, if the number reaches $ 50,000, as some lawmakers suggest, the impact would be even greater.
Putting aside personal reflections on the wisdom of going this route, it has the potential to trigger a substantial stimulus in the economy.
And as an investor, it’s fair to ask where this money would go. After all, there is nothing wrong with passing this stimulus on to investors.
A counter-argument is that the absence of a monthly payment may not provide enough money to have an impact. However, Senator Elizabeth Warren spoke about the effect of student loans in preventing many Millennials and Gen Zs from pursuing overall life goals such as buying a home, starting a business, or the creation of a family.
With that in mind, we’ve prepared this special presentation that looks at 7 actions that could benefit if borrowers are freed from the burden of student loans.
See “7 Actions to Watch Out for When Enacted Student Debt Forgiveness.”