Janney Montgomery Scott LLC Purchases Shares of 290,416 U.S. Bancorp (NYSE:USB)

Janney Montgomery Scott LLC purchased a new stake in U.S. Bancorp (NYSE:USB) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 290,416 shares of the financial services provider’s stock, valued at approximately $12,261,000.

Other large investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp bought a new position in U.S. Bancorp in the 4th quarter valued at $26,000. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the 4th quarter valued at $28,000. Picton Mahoney Asset Management bought a new position in U.S. Bancorp in the 4th quarter valued at $30,000. Millstone Evans Group LLC bought a new position in U.S. Bancorp in the 4th quarter valued at $31,000. Finally, REAP Financial Group LLC boosted its holdings in U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 297 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

USB stock opened at $43.20 on Friday. The firm’s 50-day moving average price is $42.14 and its two-hundred day moving average price is $44.84. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The stock has a market capitalization of $67.30 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.62 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.63%. U.S. Bancorp’s payout ratio is 49.50%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on USB. Piper Sandler lowered their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. DA Davidson lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Raymond James Financial restated an “outperform” rating and set a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Citigroup lowered their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.