Legacy Trust Has $2.55 Million Stock Position in U.S. Bancorp $USB

Key Points

• Legacy Trust has reduced its stake in U.S. Bancorp by 13.5%, now holding 56,260 shares worth approximately $2.55 million.
• Several institutional investors have increased their positions in U.S. Bancorp, including Nuveen LLC, which acquired a new stake worth $138.2 million during the 1st quarter.
• U.S. Bancorp is set to pay a quarterly dividend of $0.52 on October 15th, reflecting a yield of 4.3% and an increase from the previous dividend of $0.50.

Legacy Trust lowered its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 13.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,260 shares of the financial services provider's stock after selling 8,747 shares during the period. Legacy Trust's holdings in U.S. Bancorp were worth $2,546,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of USB. Nuveen LLC bought a new stake in U.S. Bancorp during the 1st quarter worth $138,183,000. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. grew its position in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the last quarter. Goldman Sachs Group Inc. grew its position in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. Finally, National Bank of Canada FI grew its position in U.S. Bancorp by 124.8% during the 1st quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider's stock worth $76,121,000 after acquiring an additional 1,001,097 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on USB. Oppenheimer reduced their price objective on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 23rd. Citigroup boosted their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Evercore ISI upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $53.26.

U.S. Bancorp Trading Up 0.2%

NYSE USB opened at $48.00 on Friday. The business's 50-day moving average price is $47.61 and its two-hundred day moving average price is $44.57. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $74.69 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.76%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by corporate insiders.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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