Legacy Investment Solutions LLC Purchases New Shares in U.S. Bancorp (NYSE:USB)

Legacy Investment Solutions LLC purchased a new stake in U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 882 shares of the financial services provider’s stock, valued at approximately $40,000.

A number of other large investors also recently bought and sold shares of USB. Natixis Advisors LLC raised its position in shares of U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after buying an additional 56,990 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of 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 acquiring an additional 45,560 shares during the last quarter. M&G Plc raised its holdings in shares of U.S. Bancorp by 73.9% in the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after buying an additional 133,498 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of U.S. Bancorp by 544.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 11,737 shares during the period. Finally, Summit Financial Wealth Advisors LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth $4,505,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $52.18 on Monday. The firm’s fifty day simple moving average is $49.13 and its 200 day simple moving average is $44.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a market capitalization of $81.40 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 3.07 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent analyst reports. Stephens increased their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $65.00 in a report on Monday, November 25th. Oppenheimer boosted their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $52.72.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp 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.