My Legacy Advisors LLC Has $819,000 Stock Position in U.S. Bancorp (NYSE:USB)

My Legacy Advisors LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,903 shares of the financial services provider’s stock after selling 3,154 shares during the period. My Legacy Advisors LLC’s holdings in U.S. Bancorp were worth $819,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the 2nd quarter valued at $25,000. LRI Investments LLC bought a new position in U.S. Bancorp during the first quarter worth about $31,000. Eagle Bay Advisors LLC raised its stake in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp in the 2nd quarter valued at about $30,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $33,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB remained flat at $47.92 during mid-day trading on Tuesday. 3,144,793 shares of the company traded hands, compared to its average volume of 8,357,584. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market cap of $74.78 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 3.32 and a beta of 1.03. The stock’s fifty day moving average is $45.37 and its 200 day moving average is $42.69.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on USB. Barclays increased their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group dropped their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.71.

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.