Legacy Private Trust Co. Decreases Holdings in U.S. Bancorp (NYSE:USB)

Legacy Private Trust Co. cut its stake in U.S. Bancorp (NYSE:USB) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,778 shares of the financial services provider’s stock after selling 237 shares during the quarter. Legacy Private Trust Co.’s holdings in U.S. Bancorp were worth $2,190,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC grew its stake 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 in the last quarter. M&T Bank Corp grew its position in U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. grew its position in U.S. Bancorp by 184.3% in the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 45,560 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of U.S. Bancorp by 544.1% during 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, Principal Financial Group Inc. lifted its position in shares of U.S. Bancorp by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,763,816 shares of the financial services provider’s stock worth $80,659,000 after purchasing an additional 75,104 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

NYSE USB traded down $0.20 during trading hours on Wednesday, hitting $48.50. The company had a trading volume of 5,143,549 shares, compared to its average volume of 6,213,152. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $75.66 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The business has a fifty day simple moving average of $50.21 and a 200-day simple moving average of $46.38.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the firm posted $1.05 EPS. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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

Analysts Set New Price Targets

Several research firms recently issued reports on USB. Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday. They set a “hold” rating and a $54.00 price target on the stock. Oppenheimer dropped their target price on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Evercore ISI increased their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

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.