Legacy Trust Sells 17,390 Shares of U.S. Bancorp (NYSE:USB)

Legacy Trust cut its position in U.S. Bancorp (NYSE:USBFree Report) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,447 shares of the financial services provider’s stock after selling 17,390 shares during the period. Legacy Trust’s holdings in U.S. Bancorp were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Natixis Advisors LLC raised its holdings in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the period. International Assets Investment Management LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at approximately $1,018,000. M&T Bank Corp lifted its holdings in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 45,560 shares during the period. Finally, Keystone Financial Planning Inc. grew its holdings in U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after buying an additional 16,552 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

USB has been the subject of a number of research reports. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Read Our Latest Stock Report on U.S. Bancorp

U.S. Bancorp Stock Down 1.6 %

Shares of NYSE USB opened at $47.65 on Thursday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm has a 50-day simple moving average of $49.93 and a two-hundred day simple moving average of $47.30. The company has a market cap of $74.34 billion, a P/E ratio of 12.57, a PEG ratio of 1.81 and a beta of 1.05. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USBGet Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS. Research analysts anticipate that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

About U.S. Bancorp

(Free Report)

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.

Further Reading

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

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