Legacy Trust Buys 9,142 Shares of U.S. Bancorp $USB

Legacy Trust boosted its position in shares of U.S. Bancorp (NYSE:USB) by 16.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,402 shares of the financial services provider’s stock after buying an additional 9,142 shares during the quarter. Legacy Trust’s holdings in U.S. Bancorp were worth $3,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the third quarter worth $26,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter valued at about $27,000. Pineridge Advisors LLC raised its stake in shares of U.S. Bancorp by 446.2% during the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 522 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $31,000. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $55.23 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market cap of $85.84 billion, a PE ratio of 12.64, a P/E/G ratio of 0.96 and a beta of 1.07. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $56.19. The stock has a fifty day moving average price of $51.07 and a 200-day moving average price of $48.54.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 47.60%.

Analyst Ratings Changes

A number of research firms have recently issued reports on USB. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research report on Thursday, October 23rd. Bank of America upped their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Oppenheimer dropped their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Wells Fargo & Company upped their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $56.30.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.