Legacy Capital Wealth Partners LLC Has $1.25 Million Position in U.S. Bancorp $USB

Legacy Capital Wealth Partners LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,650 shares of the financial services provider’s stock after buying an additional 3,512 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,251,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. West Family Investments Inc. grew its stake in shares of U.S. Bancorp by 69.3% during the second quarter. West Family Investments Inc. now owns 9,017 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 3,690 shares during the last quarter. Schroder Investment Management Group lifted its holdings in U.S. Bancorp by 7.9% in the second quarter. Schroder Investment Management Group now owns 2,644,207 shares of the financial services provider’s stock valued at $119,650,000 after buying an additional 192,737 shares during the period. Mackenzie Financial Corp grew its holdings in U.S. Bancorp by 13.3% during the 2nd quarter. Mackenzie Financial Corp now owns 244,191 shares of the financial services provider’s stock worth $11,050,000 after acquiring an additional 28,704 shares during the period. Loomis Sayles & Co. L P raised its position in shares of U.S. Bancorp by 21.9% during the 2nd quarter. Loomis Sayles & Co. L P now owns 3,524 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 634 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of U.S. Bancorp by 52.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 784,664 shares of the financial services provider’s stock valued at $35,506,000 after purchasing an additional 270,200 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB opened at $49.00 on Friday. The firm has a 50-day moving average of $47.48 and a 200-day moving average of $46.49. The company has a market cap of $76.17 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.75.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. U.S. Bancorp’s payout ratio is presently 47.60%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. DA Davidson upped their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. TD Cowen upped their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. UBS Group boosted their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.45.

Insider Buying and Selling at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company Profile

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.