Raymond James & Associates Buys 50,495 Shares of U.S. Bancorp (NYSE:USB)

Raymond James & Associates lifted its stake in U.S. Bancorp (NYSE:USB) by 1.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,491,825 shares of the financial services provider’s stock after acquiring an additional 50,495 shares during the period. Raymond James & Associates’ holdings in U.S. Bancorp were worth $156,085,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its holdings in shares of U.S. Bancorp by 7,110.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,461 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,413 shares in the last quarter. Oak Thistle LLC acquired a new stake in U.S. Bancorp during the third quarter worth $366,000. Handelsbanken Fonder AB boosted its stake in U.S. Bancorp by 3.0% during the third quarter. Handelsbanken Fonder AB now owns 385,766 shares of the financial services provider’s stock worth $12,753,000 after buying an additional 11,101 shares in the last quarter. Simplicity Solutions LLC increased its holdings in U.S. Bancorp by 4.6% in the 3rd quarter. Simplicity Solutions LLC now owns 36,546 shares of the financial services provider’s stock valued at $1,208,000 after buying an additional 1,612 shares during the period. Finally, Golden State Equity Partners raised its stake in shares of U.S. Bancorp by 9.3% in the 3rd quarter. Golden State Equity Partners now owns 24,099 shares of the financial services provider’s stock valued at $797,000 after buying an additional 2,043 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several recent research reports. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. UBS Group dropped their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Finally, Morgan Stanley increased their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Trading Up 0.4 %

Shares of USB traded up $0.18 on Monday, reaching $41.30. 4,648,438 shares of the company’s stock were exchanged, compared to its average volume of 8,657,484. The business has a 50 day moving average price of $42.34 and a two-hundred day moving average price of $40.28. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The stock has a market capitalization of $64.35 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.