U.S. Bancorp (NYSE:USB) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. cut its holdings in U.S. Bancorp (NYSE:USB) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,778 shares of the financial services provider’s stock after selling 237 shares during the quarter. Legacy Private Trust Co.’s holdings in U.S. Bancorp were worth $2,190,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in USB. FMR LLC boosted its holdings in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after acquiring an additional 2,821,642 shares during the last quarter. Marshall Wace LLP raised its position in shares of U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after purchasing an additional 1,847,000 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded down $0.20 on Wednesday, reaching $48.50. The stock had a trading volume of 5,143,549 shares, compared to its average volume of 6,213,152. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The business’s 50-day moving average price is $50.21 and its two-hundred day moving average price is $46.38. The stock has a market cap of $75.66 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp declared that its board has approved a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on USB. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Evercore ISI raised their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday. They set a “hold” rating and a $54.00 target price on the stock. Piper Sandler lifted their price target on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Compass Point raised their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.07.

About U.S. Bancorp

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.