U.S. Bancorp (NYSE:USB) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. reduced its stake in U.S. Bancorp (NYSE:USB) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,383 shares of the financial services provider’s stock after selling 7,241 shares during the quarter. Legacy Private Trust Co.’s holdings in U.S. Bancorp were worth $1,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TAP Consulting LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $259,000. Advisor Group Holdings Inc. increased its stake in U.S. Bancorp by 11.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 836,343 shares of the financial services provider’s stock valued at $36,489,000 after purchasing an additional 87,888 shares during the last quarter. MCF Advisors LLC lifted its position in U.S. Bancorp by 80.8% during the first quarter. MCF Advisors LLC now owns 4,711 shares of the financial services provider’s stock worth $172,000 after buying an additional 2,105 shares during the period. Venture Visionary Partners LLC lifted its position in U.S. Bancorp by 9.3% during the first quarter. Venture Visionary Partners LLC now owns 9,419 shares of the financial services provider’s stock worth $340,000 after buying an additional 800 shares during the period. Finally, Ascent Wealth Partners LLC boosted its stake in U.S. Bancorp by 50.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,603 shares of the financial services provider’s stock worth $995,000 after buying an additional 9,572 shares during the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 1.8 %

USB stock traded down $0.64 during trading on Friday, reaching $35.08. The stock had a trading volume of 5,511,086 shares, compared to its average volume of 14,043,117. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $49.95. The firm has a fifty day moving average price of $37.18 and a 200 day moving average price of $35.34. The company has a market capitalization of $53.78 billion, a P/E ratio of 9.89, a PEG ratio of 1.58 and a beta of 0.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 4.44 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.92 annualized dividend and a yield of 5.47%. U.S. Bancorp’s dividend payout ratio (DPR) is 53.19%.

Insider Activity

In related news, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the transaction, the insider now owns 119,058 shares in the company, valued at approximately $4,737,317.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at approximately $6,637,932. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now owns 119,058 shares in the company, valued at $4,737,317.82. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on USB. The Goldman Sachs Group raised their target price on shares of U.S. Bancorp from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Bank of America raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, July 11th. Piper Sandler cut their target price on U.S. Bancorp from $41.00 to $40.00 in a research report on Friday. Oppenheimer lowered their price target on U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, August 18th. Finally, StockNews.com initiated coverage on U.S. Bancorp in a report on Thursday, August 17th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $46.71.

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.