Raymond James Trust N.A. Has $4.22 Million Position in U.S. Bancorp (NYSE:USB)

Raymond James Trust N.A. reduced its position in shares of U.S. Bancorp (NYSE:USBGet Rating) by 68.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,634 shares of the financial services provider’s stock after selling 200,770 shares during the period. Raymond James Trust N.A.’s holdings in U.S. Bancorp were worth $4,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its holdings in U.S. Bancorp by 5.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 8,132 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 388 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in U.S. Bancorp by 1.9% during the 2nd quarter. Koshinski Asset Management Inc. now owns 14,407 shares of the financial services provider’s stock worth $663,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc increased its stake in U.S. Bancorp by 54.4% during the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 400 shares during the period. Arkadios Wealth Advisors increased its stake in U.S. Bancorp by 107.1% during the 1st quarter. Arkadios Wealth Advisors now owns 20,610 shares of the financial services provider’s stock worth $1,095,000 after acquiring an additional 10,658 shares during the period. Finally, Beacon Financial Group increased its stake in U.S. Bancorp by 3.8% during the 1st quarter. Beacon Financial Group now owns 11,209 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 407 shares during the period. 74.93% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 2.0 %

Shares of USB opened at $43.03 on Friday. The company has a market capitalization of $63.93 billion, a PE ratio of 9.89, a PEG ratio of 1.52 and a beta of 0.97. U.S. Bancorp has a 12 month low of $43.00 and a 12 month high of $63.57. The stock’s 50-day moving average price is $46.91 and its two-hundred day moving average price is $49.37. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70.

U.S. Bancorp (NYSE:USBGet Rating) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 4.45 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.48 dividend. The ex-dividend date is Thursday, September 29th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 4.46%. U.S. Bancorp’s dividend payout ratio is currently 42.30%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Morgan Stanley lifted their price target on U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. Royal Bank of Canada decreased their price target on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Wolfe Research decreased their price target on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Finally, Credit Suisse Group decreased their price target on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.56.

U.S. Bancorp Profile

(Get Rating)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

See Also

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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