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A plane registered to U.S. Bancorp Vice Chair Terry Dolan crashed in Brooklyn Park, Minnesota, on Saturday. While the bank believes Dolan was on board, the medical examiner has not confirmed this. The National Transportation Safety Board is investigating the crash of the Socata TBM 700, which had departed from Des Moines International Airport.
A plane registered to U.S. Bancorp Vice Chair Terry Dolan crashed in Brooklyn Park, Minnesota, on Saturday. The bank believes Dolan was on board, although the medical examiner has not confirmed this. The National Transportation Safety Board is investigating the crash of the Socata TBM 700, which had departed from Des Moines International Airport.
A plane registered to U.S. Bancorp Vice Chair Terry Dolan crashed in Brooklyn Park, Minnesota, on Saturday. The bank believes Dolan was on board, although the medical examiner has not confirmed this. The National Transportation Safety Board is investigating the incident, which involved a Socata TBM 700 airplane that had departed from Des Moines International Airport.
A plane crash in Brooklyn Park, Minnesota, is believed to have claimed the life of U.S. Bank executive Terry Dolan, who was reportedly the sole occupant of the aircraft. The plane, a SOCATA TBM7, crashed into a home, which was left a total loss, but the resident escaped unharmed. The National Transportation Safety Board is investigating, with more details expected in the coming days.
[SEC]
Wells Fargo has lowered its price target for U.S. Bancorp (USB) to $56 from $62 while maintaining an Overweight rating, citing a cautious Q1 outlook due to policy uncertainties. The firm has reduced its earnings estimates by 4% for Q1 and 2% through 2027, attributing this to a "degree of paralysis" affecting investment banking and loans. Despite these challenges, Wells Fargo remains optimistic about the banking sector's long-term prospects, highlighting significant deregulation.
U.S. Bancorp (NYSE:USB) boasts an 82% institutional ownership, indicating significant influence from large investors, with the top 23 shareholders holding 51% of the company. While this suggests credibility, it also poses risks if major institutions decide to sell simultaneously. Insiders own less than 1%, and the general public holds 18%, which may not be enough to sway company policy.
U.S. Bancorp's CEO Andrew Cecere sold 102,044 shares at $47.25, totaling $4.82 million, reducing his stake by 7.66%. Over the past ninety days, insiders sold 219,812 shares worth $10.39 million, while institutional investors hold 77.60% of the stock. Wells Fargo lowered its price target for U.S. Bancorp from $62 to $56, indicating a potential upside of 31.20%.
[SEC](https://www.sec.gov) and [Bloomberg]
U.S. Bancorp reported quarterly earnings of $1.07 per share, exceeding estimates, with revenue of $7.01 billion, a 3.7% increase year-over-year. The company announced a quarterly dividend of $0.50 per share, yielding 4.62%, and insiders sold over 219,000 shares recently. The firm operates across various financial services sectors, including consumer banking and institutional support.
U.S. Bancorp
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