Janney Montgomery Scott LLC Trims Holdings in U.S. Bancorp (NYSE:USB)

Janney Montgomery Scott LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 340,455 shares of the financial services provider’s stock after selling 18,083 shares during the quarter. Janney Montgomery Scott LLC’s holdings in U.S. Bancorp were worth $15,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. McAdam LLC grew its stake in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after buying an additional 209 shares in the last quarter. Valmark Advisers Inc. increased its stake in U.S. Bancorp by 2.9% during the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 242 shares during the period. Phillips Wealth Planners LLC increased its stake in U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 243 shares during the period. Waldron Private Wealth LLC lifted its position in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 247 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Oppenheimer boosted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI upped their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.12.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 0.9 %

USB stock opened at $47.62 on Wednesday. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The company has a fifty day moving average price of $46.30 and a 200 day moving average price of $43.19. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $33.61 and a 12 month high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its board has initiated a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.