The Raymond James Trust NA invests in US Bancorp (USB) Shares

Posted March 19, 2017

Kentucky Retirement Systems purchased a new position in U.S. Bancorp during the second quarter valued at about $5,566,000. Leading up to this report, we have seen a -0.91% fall in the stock price over the last 30 days and a 4.29% increase over the past 3 months.

Heading into the stock price potential, PacWest Bancorp needs to grow just 9.24% to cross its median price target of $60.75. First Trust Advisors LP increased its position in First Financial Bancorp by 16.5% in the third quarter. Principal Financial Group Inc. now owns 2,257,596 shares of the financial services provider's stock worth $96,828,000 after buying an additional 37,186 shares during the last quarter.

U.S. Bancorp (NYSE:USB) traded up 0.41% on Tuesday, reaching $49.10. The stock was sold at an average price of $52.45, for a total transaction of $19,649,658.20. PacWest Bancorp (NASDAQ:PACW) has the market capitalization of 6.69 Billion. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.37 by $0.01. The business earned $5.39 billion during the quarter, compared to the consensus estimate of $5.35 billion. U.S. Bancorp had a net margin of 25.89% and a return on equity of 13.88%.

On March 17, 2017, 1st Constitution Bancorp (the "Company") issued a press release announcing that its Board of Directors declared a cash dividend of $0.05 per share on the Company's common stock, no par value per share. For the next 5 years, U.S. Bancorp is expecting Growth of 5.6% per annum, whereas in the past 5 years the growth was 3.6% per annum.

USB has been the topic of several research reports. Jefferies Group LLC raised shares of U.S. Bancorp from a "hold" rating to a "buy" rating in a report on Monday, November 28th. Oppenheimer Holdings Inc. reaffirmed a "hold" rating on shares of U.S. Bancorp in a research report on Saturday, September 17th. The Company conducts its business through its subsidiaries, such as Evans Bank, N.A.

OFG Bancorp had its "neutral" rating reiterated by analysts at Piper Jaffray. They noted that the move was a valuation call. These analysts have also projected a Low Estimate of $0.77/share and a High Estimate of $0.85/share. They now have a Dollars 10 price target on the stock. The stock was sold at an average price of $53.60, for a total value of $404,572.80. Moving averages are used as a strong indicator for technical stock analysis and it helps investors in figuring out where the stock has been and also help in determining where it may be possibly heading. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Atlantic Securities downgraded shares of U.S. Bancorp from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $46.00 to $52.00 in a report on Wednesday, December 21st. Following the completion of the transaction, the insider now owns 109,742 shares of the company's stock, valued at $5,123,853.98. The disclosure for this sale can be found here. Following the transaction, the insider now directly owns 90,188 shares of the company's stock, valued at approximately $4,299,261.96.

1st Constitution Bancorp is the bank holding company for 1st Constitution Bank (the Bank). The Company's banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area.