U.S. Bancorp (NYSE:USB) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. grew its stake in shares of U.S. Bancorp (NYSE:USB) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,656 shares of the financial services provider’s stock after purchasing an additional 2,601 shares during the period. Raymond James Trust N.A.’s holdings in U.S. Bancorp were worth $4,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of USB. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the second quarter worth about $25,000. Frazier Financial Advisors LLC boosted its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp in the 2nd quarter worth approximately $30,000. LRI Investments LLC purchased a new position in U.S. Bancorp during the 1st quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $52.48 on Friday. The firm has a market capitalization of $81.87 billion, a PE ratio of 16.05, a PEG ratio of 2.97 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $52.69. The firm’s fifty day simple moving average is $47.63 and its 200 day simple moving average is $44.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.81%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on USB. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI lifted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Oppenheimer upped their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Finally, DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $51.22.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Company 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.