Legacy Private Trust Co. Trims Stock Position in U.S. Bancorp $USB

Legacy Private Trust Co. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 22.9% in the fourth quarter, HoldingsChannel reports. The firm owned 49,214 shares of the financial services provider’s stock after selling 14,644 shares during the period. Legacy Private Trust Co.’s holdings in U.S. Bancorp were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Guerra Advisors Inc purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at about $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the third quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp during the third quarter worth about $28,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in U.S. Bancorp during the second quarter worth about $27,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on USB. HSBC reissued a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a report on Wednesday, January 7th. Truist Financial raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $61.00 to $66.00 in a research note on Thursday, February 26th. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. TD Cowen boosted their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.02.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by insiders.

U.S. Bancorp Trading Down 0.0%

Shares of U.S. Bancorp stock opened at $51.28 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The firm has a market capitalization of $79.60 billion, a PE ratio of 11.10, a P/E/G ratio of 0.87 and a beta of 1.04. The firm’s 50-day moving average price is $55.44 and its 200 day moving average price is $51.69.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s payout ratio is 45.02%.

About U.S. Bancorp

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.