Legacy Trust Lowers Position in U.S. Bancorp (NYSE:USB)

Legacy Trust trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing 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).

Other institutional investors have also added to or reduced their stakes in the company. Strategic Planning Group LLC lifted its position in shares of U.S. Bancorp by 2.5% in the 4th quarter. Strategic Planning Group LLC now owns 98,174 shares of the financial services provider’s stock worth $4,696,000 after purchasing an additional 2,441 shares during the period. Swedbank AB raised its stake in U.S. Bancorp by 2.4% in the fourth quarter. Swedbank AB now owns 554,489 shares of the financial services provider’s stock worth $26,521,000 after buying an additional 13,223 shares in the last quarter. Strategic Blueprint LLC lifted its holdings in U.S. Bancorp by 5.2% during the fourth quarter. Strategic Blueprint LLC now owns 4,611 shares of the financial services provider’s stock worth $221,000 after buying an additional 226 shares during the period. Forsta AP Fonden boosted its position in U.S. Bancorp by 1.2% during the 4th quarter. Forsta AP Fonden now owns 331,000 shares of the financial services provider’s stock valued at $15,832,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Nvest Financial LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $336,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on USB. Morgan Stanley decreased their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Compass Point increased their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI boosted 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. Finally, Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Performance

USB opened at $47.65 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm has a 50 day moving average of $49.93 and a two-hundred day moving average of $47.30. The firm has a market capitalization of $74.34 billion, a PE ratio of 12.57, a P/E/G ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $0.99 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.