Legacy Private Trust Co. Buys 15,047 Shares of U.S. Bancorp $USB

Legacy Private Trust Co. raised its stake in U.S. Bancorp (NYSE:USB) by 30.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,858 shares of the financial services provider’s stock after purchasing an additional 15,047 shares during the period. Legacy Private Trust Co.’s holdings in U.S. Bancorp were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of USB. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Hillsdale Investment Management Inc. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $27,000. Saudi Central Bank acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth $26,000. Pineridge Advisors LLC grew its stake in U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares during the last quarter. Finally, Activest Wealth Management grew its stake in U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after buying an additional 728 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Evercore ISI raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods boosted their target price on shares of U.S. Bancorp from $53.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday, October 17th. Citigroup boosted their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, UBS Group upped their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.63.

U.S. Bancorp Trading Up 0.5%

Shares of U.S. Bancorp stock opened at $53.75 on Thursday. The stock has a market cap of $83.55 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10. The firm has a fifty day moving average price of $48.43 and a 200 day moving average price of $47.26. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $54.04. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s payout ratio is presently 47.60%.

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.