Price Action Alert: U.S. Bancorp’s Trend Up, Especially After Today’s 52-Week High Milestone

Price Action Alert: U.S. Bancorp's Trend Up, Especially After Today's 52 Week High Milestone

The stock of U.S. Bancorp (NYSE:USB) hit a new 52-week high and has $51.58 target or 4.00% above today’s $49.60 share price. The 5 months bullish chart indicates low risk for the $84.65B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $51.58 price target is reached, the company will be worth $3.39B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.25M shares traded hands. U.S. Bancorp (NYSE:USB) has risen 12.80% since April 27, 2016 and is uptrending. It has outperformed by 7.57% the S&P500.

Analysts await U.S. Bancorp (NYSE:USB) to report earnings on January, 20. They expect $0.81 earnings per share, up 2.53% or $0.02 from last year’s $0.79 per share. USB’s profit will be $1.38 billion for 15.31 P/E if the $0.81 EPS becomes a reality. After $0.84 actual earnings per share reported by U.S. Bancorp for the previous quarter, Wall Street now forecasts -3.57% negative EPS growth.

U.S. Bancorp (NYSE:USB) Ratings Coverage

Out of 21 analysts covering U.S. Bancorp (NYSE:USB), 7 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 33% are positive. $52 is the highest target while $19.0 is the lowest. The $45.93 average target is -7.40% below today’s ($49.6) stock price. U.S. Bancorp has been the topic of 40 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, August 28 by Guggenheim. The stock of U.S. Bancorp (NYSE:USB) has “Overweight” rating given on Monday, March 14 by Atlantic Securities. The firm has “Hold” rating by Deutsche Bank given on Wednesday, August 12. Robert W. Baird downgraded the stock to “Neutral” rating in Thursday, April 21 report. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, October 7. The company was initiated on Tuesday, November 24 by Piper Jaffray. The stock of U.S. Bancorp (NYSE:USB) earned “Neutral” rating by Guggenheim on Wednesday, April 6. Jefferies upgraded U.S. Bancorp (NYSE:USB) on Monday, November 28 to “Buy” rating. The firm earned “Sector Perform” rating on Tuesday, August 25 by Portales Partners. The stock has “Hold” rating given by Deutsche Bank on Tuesday, April 26.

According to Zacks Investment Research, “U.S. Bancorp is a financial services holding company. They operate full-service branch offices and ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.02, from 0.99 in 2016Q1. The ratio turned negative, as 60 funds sold all U.S. Bancorp shares owned while 406 reduced positions. 61 funds bought stakes while 401 increased positions. They now own 1.22 billion shares or 0.34% less from 1.23 billion shares in 2016Q1.
The Pennsylvania-based Cs Mckee Limited Partnership has invested 0.94% in U.S. Bancorp (NYSE:USB). Nippon Life Company holds 68,295 shares or 0.07% of its portfolio. Pillar Pacific Lc holds 0.04% of its portfolio in U.S. Bancorp (NYSE:USB) for 5,265 shares. Guggenheim Lc holds 0.12% or 915,158 shares in its portfolio. Sfmg Llc has invested 0.24% of its portfolio in U.S. Bancorp (NYSE:USB). Oakworth Capital accumulated 11,382 shares or 0.18% of the stock. Btc Cap Mgmt, a Iowa-based fund reported 84,652 shares. Mckinley Carter Wealth Svcs has invested 0.16% of its portfolio in U.S. Bancorp (NYSE:USB). Boston Advisors Lc has 0.02% invested in the company for 22,246 shares. Wesbanco Natl Bank holds 0.45% of its portfolio in U.S. Bancorp (NYSE:USB) for 187,247 shares. Dudley And Shanley Limited Liability, a Florida-based fund reported 448,250 shares. Patten Group reported 1,510 shares or 0% of all its holdings. Excalibur Mngmt Corporation has invested 0.22% of its portfolio in U.S. Bancorp (NYSE:USB). Moreover, Davis Cap Prns Ltd Liability Corporation has 6.29% invested in U.S. Bancorp (NYSE:USB) for 900,000 shares. Wealthtrust last reported 2,027 shares in the company.

Insider Transactions: Since July 21, 2016, the stock had 0 buys, and 20 insider sales for $86.97 million net activity. On Friday, August 5 KIRTLEY OLIVIA F sold $62,333 worth of the stock or 1,454 shares. The insider DAVIS RICHARD K sold 750,000 shares worth $35.70M. On Thursday, November 3 DOLAN TERRANCE R sold $119,340 worth of the stock or 2,700 shares. Shares for $932,600 were sold by von Gillern Jeffry H.. The insider Stone Kent V. sold $1.26 million. CARLSON JENNIE P also sold $2.00 million worth of U.S. Bancorp (NYSE:USB) on Thursday, October 20. $728,101 worth of shares were sold by SCHNUCK CRAIG D on Wednesday, October 26.

More recent U.S. Bancorp (NYSE:USB) news were published by: Businesswire.com which released: “U.S. Bancorp to Speak at the Goldman Sachs US Financial Services Conference 2016” on November 29, 2016. Also Forbes.com published the news titled: “U.S. Bancorp Reaches Analyst Target Price” on November 10, 2016. Nasdaq.com‘s news article titled: “U.S. Bancorp (USB) Exhibits Organic Growth, Time to Hold?” with publication date: November 16, 2016 was also an interesting one.

USB Company Profile

U.S. Bancorp, incorporated on April 2, 1929, is a multi-state financial services holding company. The Firm operates through its banking subsidiary, U.S. Bank National Association, which is engaged in the general banking business in domestic markets. The Firm provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machines (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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