Raymond James Financial Inc. Invests $184.73 Million in U.S. Bancorp (NYSE:USB)

Raymond James Financial Inc. has made a significant investment in U.S. Bancorp (NYSE:USB) during the fourth quarter, as revealed in its latest 13F filing with the SEC. The investment firm acquired a total of 3,862,278 shares in the financial services company, with a total valuation of approximately $184,733,000. Following this acquisition, Raymond James Financial now holds about 0.25% of U.S. Bancorp's outstanding shares.

Institutional Investments in U.S. Bancorp

Other significant institutional investors have also been active in adjusting their positions in U.S. Bancorp. For instance, Robeco Institutional Asset Management B.V. raised its holdings by 6.0% during the third quarter, bringing its total shares to 77,023, valued at around $3,522,000 after purchasing an additional 4,356 shares in that quarter. Catalina Capital Group LLC also entered the fray by acquiring a new stake in the same quarter, valued at $213,000.

Furthermore, Principal Financial Group Inc. increased their share count by 4.4%, now owning 1,763,816 shares valued at $80,659,000 after their recent purchase of 75,104 shares. Western Pacific Wealth Management LP experienced significant growth in its position, increasing holdings by 45.7% and holding a total of 5,100 shares valued at $233,000. Similarly, Portside Wealth Group LLC saw a 7.1% increase, acquiring 40,718 shares valued at $1,862,000 as well. At present, approximately 77.60% of U.S. Bancorp’s stock is held by institutional investors and hedge funds.

Insider Trading Activity

In other news pertaining to U.S. Bancorp, insider Jodi L. Richard sold 30,000 shares at an average price of $47.59 on February 6th, totaling $1,427,700. After this sale, Richard’s remaining shares are valued at approximately $4,749,006.10, which represents a 23.11% reduction in their ownership. Similar activities were noted with insider Terrance R. Dolan who sold 66,317 shares at an average price of $46.96, accumulating $3,114,246.32. Dolan now holds 209,482 shares worth about $9,837,274.72, reflecting a 24.05% decrease in ownership. Overall, insiders have divested 219,812 shares worth $10,385,665 over the last quarter, which constitutes about 0.23% of the company's total stock.

Analyst Perspectives on U.S. Bancorp

On the analysts’ front, several recent reports have been issued regarding U.S. Bancorp shares. DA Davidson upgraded the rating from "neutral" to "buy," raising the price target from $58 to $60 on January 2nd. Truist Financial began coverage on January 7th, assigning a "hold" rating with a $54 price target. On November 15th, Wells Fargo & Company increased their target from $60 to $62 while maintaining an "overweight" rating. Additionally, Raymond James improved the rating from "market perform" to "outperform" with a target of $57 on December 19th. Morgan Stanley lowered their price objective from $60 to $59 while keeping an "overweight" rating. Currently, ten analysts rate the stock as "hold" and eleven suggest a "buy," leading to a consensus rating of "Moderate Buy" and an average target price of $54.21.

U.S. Bancorp's Stock Metrics

As for stock performance, U.S. Bancorp shares opened at $44.77 on Friday. The bank has a quick ratio of 0.80, a current ratio of 0.81, and a debt-to-equity ratio of 1.11. The firm boasts a 50-day moving average price of $47.54 and a 200-day moving average of $47.87. U.S. Bancorp’s shares have ranged between a 52-week low of $37.81 and a high of $53.98. The company's market capitalization are $69.84 billion, a P/E ratio of 11.81, and a P/E/G ratio of 1.73, with a beta value of 1.02.

U.S. Bancorp recently released its earnings results on January 16th, reporting earnings of $1.07 per share, surpassing the analysts' estimates of $1.06 by $0.01. The company achieved a net margin of 14.75% and a return on equity of 12.94%, with total revenues reported at $7.01 billion, slightly above the anticipated $7 billion. Compared to the same quarter last year, revenue has increased by 3.7%. Analysts forecast an EPS of 4.38 for the current year.

U.S. Bancorp's Dividend Announcement

Additionally, U.S. Bancorp has declared a quarterly dividend of $0.50, which was distributed on January 15th. Record shareholders by December 31st received this amount, with an ex-dividend date on the same day. This translates to an annualized dividend of $2.00, equating to a dividend yield of 4.47%. The current dividend payout ratio is 52.77%.

Overview of U.S. Bancorp

U.S. Bancorp is a financial services holding company that provides a range of financial services, including banking for individuals, businesses, and governmental entities across the United States. The company operates various segments including Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support.

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