Legacy Wealth Asset Management LLC Sells 446 Shares of U.S. Bancorp (NYSE:USB)

Legacy Wealth Asset Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 31,253 shares of the financial services provider’s stock after selling 446 shares during the period. Legacy Wealth Asset Management LLC’s holdings in U.S. Bancorp were worth $1,397,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares in the last quarter. Norges Bank purchased a new position in U.S. Bancorp during the 4th quarter valued at about $827,370,000. Morgan Stanley boosted its stake in U.S. Bancorp by 4.3% during the third quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock worth $599,363,000 after acquiring an additional 751,865 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in U.S. Bancorp by 3.0% in the fourth quarter. Van ECK Associates Corp now owns 8,941,642 shares of the financial services provider’s stock worth $386,994,000 after purchasing an additional 264,264 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of U.S. Bancorp in a report on Thursday, May 16th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. DA Davidson lowered their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Finally, Evercore ISI upped their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average target price of $45.84.

U.S. Bancorp Stock Performance

NYSE USB traded down $0.46 on Thursday, hitting $39.51. 3,715,540 shares of the company traded hands, compared to its average volume of 8,371,646. The business’s 50 day moving average price is $40.26 and its 200-day moving average price is $41.60. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 3.85 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. Equities analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. U.S. Bancorp’s payout ratio is 64.90%.

About U.S. Bancorp

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.