U.S. Bancorp (USB) may enjoy gains as insiders got busy in the recent days

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U.S. Bancorp’s recent filing unveils that its Chairman, President and CEO CECERE ANDREW unloaded Company’s shares for reported $3.7 million on Dec 12. In the deal valued at $43.51 per share,84,948 shares were sold. As a result of this transaction, CECERE ANDREW now holds 956,742 shares worth roughly $ 45.61 million.

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Then, DOLAN TERRANCE R sold 15,000 shares, generating $650,100 in total proceeds. Upon selling the shares at $43.34, the Vice Chair & CFO now owns 138,051 shares.

Before that, Welsh Timothy A sold 19,000 shares. U.S. Bancorp shares valued at $834,385 were divested by the Vice Chair at a price of $43.91 per share. As a result of the transaction, Welsh Timothy A now holds 92,623 shares, worth roughly $4.42 million.

UBS upgraded its U.S. Bancorp [USB] rating to a Buy from a a Neutral in a research note published on Monday, January 10, 2023; the price target was increased to $55 from $47. PT values the company’s stock at a premium of 13.33 to its Monday closing price. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in early January from “an Equal weight” to “an Overweight”. DA Davidson began covering USB with “Neutral” recommendation on December 21, 2022. Keefe Bruyette revised its rating on December 13, 2022. It rated USB as “an Outperform” which previously was an “a Mkt perform”.

Price Performance Review of USB

On Monday, U.S. Bancorp [NYSE:USB] saw its stock jump 2.60% to $47.67. On the same session, the stock had its day’s lowest price of $46.535, but rose to a high of $47.69. Over the last five days, the stock has gained 0.72%. U.S. Bancorp shares have risen nearly 9.31% since the year began. Nevertheless, the stocks have fallen -16.28% over the past one year. While a 52-week high of $60.50 was reached on 01/12/23, a 52-week low of $38.39 was recorded on 01/03/23. SMA at 50 days reached $44.42, while 200 days put it at $46.23. A total of 8.14 million shares were traded, compared to the trading of 8.03 million shares in the previous session.

Levels Of Support And Resistance For USB Stock

The 24-hour chart illustrates a support level at 46.91, which if violated will result in even more drops to 46.14. On the upside, there is a resistance level at 48.06. A further resistance level may holdings at 48.45. The Relative Strength Index (RSI) on the 14-day chart is 64.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.00%. Stochastics %K at 70.64% indicates the stock is a holding.

How much short interest is there in U.S. Bancorp?

A steep rise in short interest was recorded in U.S. Bancorp stocks on Oct 13, 2022, growing by 0.49 million shares to a total of 11.67 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 11.18 million shares. There was a rise of 4.2%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.1.

U.S. Bancorp [USB] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 109,441,153 shares, or roughly 7.37% of the outstanding USB shares. In other words, the investor’s shares have risen by 1,410,364 from its previous 13-F filing of 108030789.0. Additionally, BlackRock Fund Advisors decreased -4.34% of its stake after which the total value it holdings stand at $2,901,655,718, while SSgA Funds Management, Inc. added 0.36% of its stake to hold $2.57 billion in the firm. Over the last quarter, Berkshire Hathaway, Inc. sold -25,241,191 shares of U.S. Bancorp, while JPMorgan Investment Management, I sold 7,159,146 shares. At present, Charles Schwab Investment Managem is holding 25,870,297 shares valued at $1.13 billion. Geode Capital Management LLC owned 24,430,252 shares of the company at the time of its most recent 13F filing, worth $1.07 billion.

According to FactSet, U.S. Bancorp’s share price will average $52.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.92 percent from its previous closing price of $46.46. Analysts expect U.S. Bancorp stock to reach the higher price of $70.00, while the lowest price estimate is $42.00. However, 27 analysts have rated USB stock as an Overweight in their predictions for 2023.

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