Legacy Capital Wealth Partners LLC Cuts Position in U.S. Bancorp (NYSE:USB)

Legacy Capital Wealth Partners LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,924 shares of the financial services provider’s stock after selling 1,653 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,240,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in USB. AMF Tjanstepension AB grew its stake in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock valued at $24,401,000 after acquiring an additional 76,914 shares during the last quarter. nVerses Capital LLC grew its stake in U.S. Bancorp by 44.8% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 1,300 shares during the last quarter. Bleakley Financial Group LLC grew its stake in U.S. Bancorp by 8.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 44,122 shares of the financial services provider’s stock valued at $2,018,000 after acquiring an additional 3,383 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in U.S. Bancorp by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 206,495 shares of the financial services provider’s stock valued at $9,443,000 after acquiring an additional 2,283 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in U.S. Bancorp by 26.5% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 7,593 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 1,590 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of research reports. 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 research note on Thursday, January 2nd. Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Oppenheimer raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Finally, Morgan Stanley decreased their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.7 %

NYSE USB opened at $47.73 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company’s 50 day moving average price is $48.61 and its 200 day moving average price is $47.52. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market capitalization of $74.46 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm posted $0.99 earnings per share. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.19%. U.S. Bancorp’s payout ratio is 52.77%.

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.