Raymond James Trust N.A. Has $4.42 Million Position in U.S. Bancorp (NYSE:USB)

Raymond James Trust N.A. grew its holdings in U.S. Bancorp (NYSE:USB) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,656 shares of the financial services provider’s stock after buying an additional 2,601 shares during the quarter. Raymond James Trust N.A.’s holdings in U.S. Bancorp were worth $4,420,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC lifted its stake in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares during the period. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp in the second quarter valued at $20,188,000. Janus Henderson Group PLC grew its position in U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after acquiring an additional 16,686 shares during the period. Comerica Bank raised its stake in U.S. Bancorp by 11.2% during the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after acquiring an additional 56,738 shares in the last quarter. Finally, M&G Plc lifted its holdings in shares of U.S. Bancorp by 73.9% during the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after acquiring an additional 133,498 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 2.1 %

Shares of NYSE:USB opened at $52.48 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $81.87 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 2.97 and a beta of 1.02. The company has a 50 day moving average of $47.63 and a 200-day moving average of $44.03. U.S. Bancorp has a one year low of $36.49 and a one year high of $52.69.

U.S. Bancorp (NYSE:USB) last released its earnings results 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. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Finally, Stephens boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.22.

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.