MINNEAPOLIS—Andrew Cecere, Chairman and CEO of US Bancorp (NYSE:USB), reported the sale of 102,044 shares of the company’s common stock, totaling approximately $4.82 million. The shares were sold at a weighted average price of $47.25 to $47.265 per share, according to a recent SEC filing.
In conjunction with the sale, Cecere also exercised stock options to acquire 102,044 shares at a price of $44.32 per share, which were subsequently sold. Following these transactions, Cecere holds 1,230,316 shares directly. The bank maintains strong fundamentals with a P/E ratio of 12.5 and offers a 4.2% dividend yield, having raised its dividends for 14 consecutive years.
Additionally, Cecere maintains indirect ownership of 14,502 shares through a 401(k) plan and 341 shares held by his spouse. These recent transactions highlight Cecere’s ongoing management of his holdings in US Bancorp. According to InvestingPro, the company currently trades near its Fair Value, with a "Fair" overall financial health score. Subscribers can access additional insights and 6 more exclusive ProTips about USB’s financial outlook.
In other recent news, U.S. Bancorp (BVMF:USBC34) has seen significant changes in its executive team, as revealed in a recent SEC filing. Vice Chair of Payment Services, Shailesh M. Kotwal, is set to end his role in February 2025, continuing in an advisory capacity until June 2025. Furthermore, Scott W. Wine will not seek re-election after his term ends at the 2025 Annual Meeting of Shareholders, a decision attributed to personal reasons.
In a separate development, Gunjan Kedia is set to succeed Andy Cecere as CEO in mid-April, a leadership change that has been met with optimism by the company’s board. Kedia, a seasoned financial services professional, has been with U.S. Bancorp since 2016.
Financial analysts have also been active, with Piper Sandler reducing its price target for U.S. Bancorp from $58.00 to $55.00, while maintaining an Overweight rating. The firm cited an increase in the estimated earnings per share (EPS) for 2025 and a slight reduction for 2026. Meanwhile, Oppenheimer raised its price target to $63 from $62, maintaining an Outperform rating. Lastly, Raymond (NSE:RYMD) James reaffirmed an Outperform rating and a $57.00 price target for U.S. Bancorp, expressing satisfaction with the bank’s progress despite its conservative guidance. These are recent developments that have been shaping the trajectory of U.S. Bancorp.
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