Janney Montgomery Scott LLC Sells 32,379 Shares of U.S. Bancorp $USB

Janney Montgomery Scott LLC lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,037 shares of the financial services provider’s stock after selling 32,379 shares during the quarter. Janney Montgomery Scott LLC’s holdings in U.S. Bancorp were worth $11,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. Amundi grew its stake in shares of U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock worth $773,268,000 after acquiring an additional 422,050 shares in the last quarter. Davis Selected Advisers grew its stake in shares of U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock worth $628,614,000 after acquiring an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock worth $535,312,000 after acquiring an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of several recent analyst reports. DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Saturday, September 27th. Oppenheimer reduced their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Finally, Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $53.26.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company’s stock, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.00 on Friday. The company’s 50-day moving average is $47.61 and its 200 day moving average is $44.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $74.69 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.3%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp’s payout ratio is currently 49.76%.

U.S. Bancorp 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.