Allspring Global Investments Holdings LLC Decreases Position in U.S. Bancorp (NYSE:USB)

Allspring Global Investments Holdings LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,322 shares of the financial services provider's stock after selling 63,116 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in U.S. Bancorp were worth $4,371,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider's stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC increased its stake in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider's stock worth $2,164,350,000 after buying an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC raised its position in U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider's stock worth $1,507,616,000 after buying an additional 599,852 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of U.S. Bancorp by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider's stock worth $513,796,000 after acquiring an additional 436,252 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Trading Down 1.9 %

Shares of NYSE USB traded down $0.89 during midday trading on Friday, reaching $45.88. 9,326,979 shares of the stock were exchanged, compared to its average volume of 9,157,008. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $71.57 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.75 and a beta of 1.04. The stock has a 50 day moving average price of $48.29 and a 200-day moving average price of $47.61. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the firm posted $0.99 EPS. U.S. Bancorp's revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp's payout ratio is 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on USB. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Oppenheimer lifted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Morgan Stanley reduced their target price on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $54.21.

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.