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

In the latest filing with the SEC, Raymond James Financial Inc. disclosed that it has acquired a new position in U.S. Bancorp (NYSE:USB - Free Report) during the fourth quarter. The institutional investor purchased a significant number of shares, totaling 3,862,278, which is valued at approximately $184,733,000. As of the most recent filing, this acquisition represents around 0.25% of U.S. Bancorp's total stock.

Notable Actions by Other Investors

A number of other large investors have also made changes to their interests in U.S. Bancorp recently. For instance, Robeco Institutional Asset Management B.V. boosted its investment by 6.0% in the third quarter, acquiring an additional 4,356 shares, bringing its total to 77,023 shares valued at $3,522,000. Meanwhile, Catalina Capital Group LLC initiated a new position valued at $213,000. Principal Financial Group Inc. raised its stake by 4.4%, ending the quarter with 1,763,816 shares valued at $80,659,000 after adding 75,104 shares. Western Pacific Wealth Management LP significantly increased its shares in U.S. Bancorp by 45.7%, now holding 5,100 shares worth $233,000. Similarly, Portside Wealth Group LLC raised its investment by 7.1%, acquiring an additional 2,696 shares for a total of 40,718 shares valued at $1,862,000. Currently, about 77.60% of U.S. Bancorp's shares are held by institutional investors and hedge funds.

Insider Transactions

In recent developments, insider trading activity has also been noted. For example, Jodi L. Richard, an insider, sold 30,000 of the company’s shares on February 6th for an average price of $47.59, totaling $1,427,700. Following this sale, Richard holds 99,790 shares valued at around $4,749,006. This transaction marked a 23.11% decrease in their ownership. Likewise, Terrance R. Dolan sold 66,317 shares on February 3rd, bringing in $3,114,246.32 at an average price of $46.96. After this sale, Dolan owns 209,482 shares valued at $9,837,274.72, resulting in a 24.05% decrease in their position. Over the last quarter, insiders have sold a total of 219,812 shares worth $10,385,665, while they currently own roughly 0.23% of the company.

Analysts' Perspectives on U.S. Bancorp

Recently, several analysts have expressed their views on U.S. Bancorp's stock. DA Davidson upgraded the stock from a "neutral" to a "buy" rating, raising the price target from $58.00 to $60.00 as of January 2nd. Truist Financial began tracking U.S. Bancorp on January 7th, providing a "hold" rating with a price target of $54.00. Wells Fargo increased its price target from $60.00 to $62.00, giving the company an "overweight" rating. Additionally, Raymond James upgraded U.S. Bancorp from "market perform" to "outperform," setting a target price of $57.00 on December 19th. Morgan Stanley, however, adjusted its price target from $60.00 to $59.00 while maintaining an "overweight" rating. Overall, research analysts have given U.S. Bancorp a consensus rating of "Moderate Buy" with an average price target of $54.21.

Stock Performance Overview

On Friday, shares of U.S. Bancorp opened at $44.77. Key financial metrics include a quick ratio of 0.80, a current ratio of 0.81, and a debt-to-equity ratio of 1.11. The stock's 50-day moving average is $47.54, while the two-hundred day moving average stands at $47.87. U.S. Bancorp has experienced a 52-week low of $37.81 and a high of $53.98, with a market capitalization of $69.84 billion. The firm also has a P/E ratio of 11.81 and a P/E/G ratio of 1.73, along with a beta of 1.02.

In its most recent earnings report on January 16th, U.S. Bancorp reported earnings per share (EPS) of $1.07, surpassing analysts' estimates of $1.06 by a small margin. The company achieved a net margin of 14.75% and a return on equity of 12.94%, with revenues of $7.01 billion, slightly above expectations. This revenue figure reflects a 3.7% increase year-over-year, following an EPS of $0.99 from the same quarter last year.

Dividend Announcement

U.S. Bancorp has recently declared a quarterly dividend, which was paid out on January 15th. Shareholders who were on record as of December 31st received a dividend of $0.50 per share. This translates to an annualized dividend of $2.00, yielding 4.47%. The company's current dividend payout ratio is 52.77%.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company that delivers a range of financial solutions to various clients, including individual consumers, businesses, and government entities throughout the United States. It operates in several segments, including Wealth Management, Corporate and Institutional Banking, Consumer and Business Banking, Payment Services, and Treasury and Corporate Support.

investment, financial, U.S., Bancorp, stocks