Terrance R. Dolan, Vice Chair of US Bancorp (NYSE:USB), a $74 billion market cap banking institution, recently sold a significant portion of his holdings in the company. According to InvestingPro data, the stock is currently trading near its Fair Value. On February 3, Dolan sold 66,317 shares of US Bancorp common stock at an average price of approximately $46.958 per share, totaling about $3.1 million.
In addition to the sale, Dolan exercised stock options to acquire 66,317 shares at prices ranging from $39.49 to $44.32, valued at approximately $2.75 million. Following these transactions, Dolan holds 209,482 shares directly and an additional 8,063 shares indirectly through a 401(k) plan. The bank, which has raised its dividend for 14 consecutive years and maintains a 4.2% yield, shows FAIR financial health according to InvestingPro's comprehensive analysis, which offers additional insights through its detailed Pro Research Report.
In other recent news, U.S. Bancorp (BVMF:USBC34) has seen several significant developments. The company has disclosed executive changes, with Vice Chair of Payment Services, Shailesh M. Kotwal, set to end his role in February 2025. Kotwal will then continue in an advisory capacity until June 2025. Additionally, Scott W. Wine, a member of the Board of Directors, will not seek re-election after his term concludes at the 2025 Annual Meeting of Shareholders.
In a separate development, Gunjan Kedia is set to succeed Andy Cecere as CEO of U.S. Bancorp in mid-April, following the annual shareholders' meeting. Kedia, the current president, will take the helm after Cecere transitions to the role of executive chairman.
Analysts have also been active in their assessments of U.S. Bancorp. Piper Sandler has reduced its price target for the company from $58.00 to $55.00, despite maintaining an Overweight rating. Meanwhile, Oppenheimer increased its price target from $62 to $63, maintaining an Outperform rating. Lastly, Raymond (NSE:RYMD) James reaffirmed an Outperform rating and a $57.00 price target for U.S. Bancorp stock. These are the latest developments for U.S. Bancorp.
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