Legacy Capital Wealth Partners LLC Trims Holdings in U.S. Bancorp (NYSE:USB)

Legacy Capital Wealth Partners LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,924 shares of the financial services provider’s stock after selling 1,653 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,240,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in USB. AMF Tjanstepension AB increased its stake in U.S. Bancorp by 16.9% during the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares during the period. nVerses Capital LLC increased its stake in U.S. Bancorp by 44.8% during the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,300 shares during the period. Bleakley Financial Group LLC increased its stake in U.S. Bancorp by 8.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 44,122 shares of the financial services provider’s stock worth $2,018,000 after buying an additional 3,383 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in U.S. Bancorp by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 206,495 shares of the financial services provider’s stock worth $9,443,000 after buying an additional 2,283 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in U.S. Bancorp by 26.5% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 7,593 shares of the financial services provider’s stock worth $347,000 after buying an additional 1,590 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.7 %

USB stock opened at $47.73 on Friday. The company has a fifty day moving average price of $48.61 and a 200 day moving average price of $47.52. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a market cap of $74.46 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results 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. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s payout ratio is currently 52.77%.

Analysts Set New Price Targets

Several research firms have commented on USB. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their price target 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. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Thursday, December 19th. Morgan Stanley lowered their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is 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.