The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. U.S. Bancorp. shares valued at $895,070 were sold by CHOSY JAMES L on Feb 16 ’24. At $41.47 per share, CHOSY JAMES L sold 21,582 shares. The insider’s holdings dropped to 164,880 shares worth approximately $7.08 million following the completion of this transaction.
Also, CECERE ANDREW sold 93,366 shares, netting a total of over 3,860,871 in proceeds. Following the sale of shares at $41.35 each, the insider now holds 1,081,432 shares.
Before that, DOLAN TERRANCE R had sold 26,583 shares from its account. In a trade valued at $1,153,011, the Vice Chair traded U.S. Bancorp. shares for $43.37 each. Upon closing the transaction, the insider’s holdings decreased to 26,583 shares, worth approximately $6.19 million.
As published in a research note from HSBC Securities on March 28, 2024, U.S. Bancorp. [USB] has been rated up from a Hold to a Buy and the price target has been revised to $53 from $47. Analysts at Compass Point upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late March. As of December 20, 2023, Stephens has decreased its “an Overweight” rating to a “an Equal-weight” for USB. Earlier on December 15, 2023, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for USB stock which previously was a “an Outperform”.
Analyzing USB Stock Performance
During the last five days, there has been a drop of approximately -2.45%. Over the course of the year, U.S. Bancorp. shares have dropped approximately -0.83%. Shares of the company reached a 52-week high of $45.04 on 03/22/24 and a 52-week low of $38.87 on 02/07/24. A 50-day SMA is recorded $42.19, while a 200-day SMA reached $38.20. Nevertheless, trading volume fell to 6.49 million shares from 5.87 million shares the previous day.
Support And Resistance Levels for U.S. Bancorp. (USB)
According to the 24-hour chart, there is a support level at 42.42, which, if violated, would cause prices to drop to 41.92. In the upper region, resistance lies at 43.72. The next price resistance is at 44.53. RSI (Relative Strength Index) is 49.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 63.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is U.S. Bancorp. subject to short interest?
Stocks of U.S. Bancorp. saw a sharp rise in short interest on Mar 15, 2024 jumping by 3.6 million shares to 21.9 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 18.3 million shares. A jump of 16.44% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.43.
