Legacy Financial Advisors Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,035 shares of the financial services provider’s stock after buying an additional 1,922 shares during the period. U.S. Bancorp comprises about 0.7% of Legacy Financial Advisors Inc.’s holdings, making the stock its 14th largest position. Legacy Financial Advisors Inc.’s holdings in U.S. Bancorp were worth $2,436,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently made changes to their positions in USB. Norges Bank purchased a new position in U.S. Bancorp in the fourth quarter worth $673,915,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in U.S. Bancorp by 1,964.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,862,914 shares of the financial services provider’s stock worth $86,793,000 after purchasing an additional 1,772,656 shares during the last quarter. Coho Partners Ltd. boosted its position in U.S. Bancorp by 36.5% in the fourth quarter. Coho Partners Ltd. now owns 5,273,903 shares of the financial services provider’s stock worth $245,711,000 after purchasing an additional 1,410,994 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in U.S. Bancorp by 518.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,617,721 shares of the financial services provider’s stock worth $75,370,000 after purchasing an additional 1,356,292 shares during the last quarter. Finally, Maj Invest Holding A S raised its stake in shares of U.S. Bancorp by 34.3% in the fourth quarter. Maj Invest Holding A S now owns 5,016,236 shares of the financial services provider’s stock valued at $233,705,000 after buying an additional 1,280,113 shares during the period. 71.73% of the stock is currently owned by institutional investors.
USB opened at $59.29 on Tuesday. The business has a 50 day simple moving average of $56.51 and a two-hundred day simple moving average of $48.42. The firm has a market capitalization of $89.09 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 2.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $28.36 and a one year high of $60.13.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.49. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 3.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio is currently 38.71%.
In related news, insider Gillern Jeffry H. Von sold 19,385 shares of the firm’s stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $58.32, for a total transaction of $1,130,533.20. Following the completion of the transaction, the insider now owns 93,308 shares of the company’s stock, valued at approximately $5,441,722.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gunjan Kedia sold 20,000 shares of the stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $56.94, for a total value of $1,138,800.00. Following the sale, the insider now owns 84,526 shares in the company, valued at $4,812,910.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,779 shares of company stock valued at $14,319,060. 0.23% of the stock is owned by corporate insiders.
Several brokerages have issued reports on USB. Deutsche Bank Aktiengesellschaft boosted their target price on U.S. Bancorp from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 1st. Barclays boosted their target price on U.S. Bancorp from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, April 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on U.S. Bancorp from $63.00 to $65.00 in a research note on Wednesday, April 21st. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 24th. Finally, Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $62.00 in a research note on Monday, April 19th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $56.15.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services 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. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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