Janney Montgomery Scott LLC boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,049 shares of the financial services provider’s stock after buying an additional 4,358 shares during the period. Janney Montgomery Scott LLC’s holdings in U.S. Bancorp were worth $4,208,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Hudock Capital Group LLC increased its position in U.S. Bancorp by 0.4% during the 1st quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock valued at $195,000 after buying an additional 16 shares in the last quarter. BSW Wealth Partners increased its position in U.S. Bancorp by 0.6% during the 1st quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock valued at $205,000 after buying an additional 23 shares in the last quarter. First National Bank of Hutchinson increased its position in U.S. Bancorp by 0.3% during the 2nd quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock valued at $576,000 after buying an additional 32 shares in the last quarter. D. Scott Neal Inc. increased its position in U.S. Bancorp by 0.5% during the 1st quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock valued at $386,000 after buying an additional 36 shares in the last quarter. Finally, Green Square Capital LLC increased its position in U.S. Bancorp by 0.4% during the 1st quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock valued at $586,000 after buying an additional 41 shares in the last quarter. 74.21% of the stock is owned by institutional investors.

Shares of U.S. Bancorp (NYSE:USB) opened at 51.57 on Wednesday. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The company has a market cap of $86.26 billion, a price-to-earnings ratio of 15.58 and a beta of 0.87. The firm has a 50 day moving average price of $52.11 and a 200-day moving average price of $52.22.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, equities analysts expect that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of research analysts recently weighed in on USB shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Finally, Wells Fargo & Company started coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $52.50.

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U.S. Bancorp Profile

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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