Legacy Wealth Asset Management LLC Trims Position in U.S. Bancorp (NYSE:USB)

Legacy Wealth Asset Management LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,729 shares of the financial services provider’s stock after selling 360 shares during the period. Legacy Wealth Asset Management LLC’s holdings in U.S. Bancorp were worth $752,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the period. International Assets Investment Management LLC bought a new position in U.S. Bancorp during the 4th quarter worth about $1,018,000. M&T Bank Corp grew its holdings in U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after acquiring an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in U.S. Bancorp by 184.3% during 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in U.S. Bancorp by 544.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 11,737 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.8 %

NYSE:USB opened at $48.40 on Friday. 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 company’s 50 day moving average is $50.22 and its two-hundred day moving average is $46.72. The company has a market cap of $75.50 billion, a PE ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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 12.92% and a return on equity of 12.91%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business posted $0.99 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 3.91 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Stephens increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.21.

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.