U.S. Bancorp (USB)’s Trend Down, Especially After Forming a Bearish Ascending Triangle Chart Pattern

July 17, 2017 - By Adrian Mccoy

Investors sentiment increased to 1.07 in Q4 2016. Its up 0.10, from 0.97 in 2016Q3. It increased, as 46 investors sold U.S. Bancorp shares while 425 reduced holdings. 141 funds opened positions while 361 raised stakes. 1.23 billion shares or 1.73% more from 1.21 billion shares in 2016Q3 were reported.
7.72M were accumulated by Century Cos. Louisiana State Employees Retirement System has invested 0.27% in U.S. Bancorp (NYSE:USB). Delta Asset Mngmt Ltd Tn reported 0.03% stake. Mrj Cap Incorporated accumulated 38,319 shares. Wendell David Assocs has invested 0.92% in U.S. Bancorp (NYSE:USB). First Personal holds 0.04% of its portfolio in U.S. Bancorp (NYSE:USB) for 2,784 shares. 5,770 were accumulated by Financial Bank Of Stockton. Umb National Bank & Trust N A Mo has invested 0.28% in U.S. Bancorp (NYSE:USB). 827 were accumulated by Earnest Ptnrs Limited Liability. Vigilant Ltd Liability Co holds 3.28% or 363,052 shares. Hm Payson & owns 6,124 shares or 0.02% of their US portfolio. Torch Wealth Management Ltd Liability has 52,045 shares. Moreover, Kames Cap Plc has 0% invested in U.S. Bancorp (NYSE:USB). Ibm Retirement Fund reported 152,623 shares or 0.35% of all its holdings. Moreover, Baldwin Brothers Ma has 0.09% invested in U.S. Bancorp (NYSE:USB) for 10,000 shares.

Since January 19, 2017, it had 0 insider purchases, and 15 selling transactions for $72.48 million activity. $1.09M worth of U.S. Bancorp (NYSE:USB) shares were sold by von Gillern Jeffry H.. $612,091 worth of U.S. Bancorp (NYSE:USB) shares were sold by OMALEY DAVID B. GODRIDGE LESLIE V sold $740,539 worth of U.S. Bancorp (NYSE:USB) on Wednesday, May 3. $1.60 million worth of stock was sold by Elmore John R. on Wednesday, February 1. Stone Kent V. also sold $743,177 worth of U.S. Bancorp (NYSE:USB) shares. Shares for $1.08 million were sold by CARLSON JENNIE P on Friday, February 3. On Thursday, January 19 DOLAN TERRANCE R sold $5.13 million worth of U.S. Bancorp (NYSE:USB) or 101,334 shares.

The stock of U.S. Bancorp (USB) formed an ascending triangle with $47.78 target or 8.00 % below today’s $51.94 share price. The 9 months triangle pattern indicates high risk for the $87.31 billion company. If the $47.78 price target is reached, the company will be worth $6.98B less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 3.44M shares traded. U.S. Bancorp (NYSE:USB) has risen 23.07% since July 17, 2016 and is uptrending. It has outperformed by 6.37% the S&P500.

Analysts expect U.S. Bancorp (NYSE:USB) to report $0.86 EPS on July, 19 before the open.They anticipate $0.03 EPS change or 3.61 % from last quarter’s $0.83 EPS. USB’s profit would be $1.45 billion giving it 15.10 P/E if the $0.86 EPS is correct. After having $0.82 EPS previously, U.S. Bancorp’s analysts see 4.88 % EPS growth.

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

Among 24 analysts covering U.S. Bancorp (NYSE:USB), 6 have Buy rating, 1 Sell and 17 Hold. Therefore 25% are positive. U.S. Bancorp had 52 analyst reports since August 6, 2015 according to SRatingsIntel. Deutsche Bank upgraded the stock to “Buy” rating in Tuesday, September 8 report. The stock of U.S. Bancorp (NYSE:USB) has “Underweight” rating given on Monday, November 14 by Morgan Stanley. The rating was downgraded by Wells Fargo on Friday, May 5 to “Market Perform”. The rating was upgraded by Deutsche Bank on Wednesday, January 13 to “Buy”. The company was maintained on Thursday, October 20 by RBC Capital Markets. Jefferies upgraded the shares of USB in report on Monday, November 28 to “Buy” rating. The rating was upgraded by Portales Partners on Tuesday, August 25 to “Sector Perform”. The firm has “Buy” rating given on Wednesday, July 22 by Canaccord Genuity. The stock of U.S. Bancorp (NYSE:USB) has “Overweight” rating given on Tuesday, November 24 by Piper Jaffray. Deutsche Bank maintained U.S. Bancorp (NYSE:USB) rating on Wednesday, August 12. Deutsche Bank has “Hold” rating and $47 target.

More notable recent U.S. Bancorp (NYSE:USB) news were published by: Fool.com which released: “Is US Bancorp Stock Safe?” on July 08, 2017, also Seekingalpha.com with their article: “This Safe Bank Is A Buy Under $50” published on July 11, 2017, Forbes.com published: “US Bancorp’s Capital Plan Indicates Bank May Be Saving Up For Acquisitions” on July 05, 2017. More interesting news about U.S. Bancorp (NYSE:USB) were released by: Zacks.com and their article: “Implied Volatility Surging for US Bancorp (USB) Stock Options July 06, 2017” published on July 06, 2017 as well as Law360.com‘s news article titled: “US Bancorp Branch Managers Denied Cert. In OT Suit” with publication date: June 20, 2017.

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