Legacy Wealth Asset Management LLC Sells 360 Shares of U.S. Bancorp (NYSE:USB)

Legacy Wealth Asset Management LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 large investors have also recently modified their holdings of the company. Natixis Advisors LLC boosted its stake in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring an additional 56,990 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $1,018,000. M&T Bank Corp raised its holdings in shares of U.S. Bancorp by 2.8% during 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 purchasing an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings 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 last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on USB shares. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Trading Up 0.8 %

Shares of USB opened at $48.40 on Friday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a market cap of $75.50 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $50.22 and its 200-day simple moving average is $46.72.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 3.91 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

U.S. Bancorp 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.