Allspring Global Investments Holdings LLC Sells 434,311 Shares of U.S. Bancorp (NYSE:USB)

Allspring Global Investments Holdings LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 56.2% during the fourth quarter, Holdings Channel reports. The firm owned 338,302 shares of the financial services provider’s stock after selling 434,311 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in U.S. Bancorp were worth $14,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CGC Financial Services LLC bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp in the 3rd quarter worth $30,000. Finally, First Command Advisory Services Inc. purchased a new stake in U.S. Bancorp in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.3 %

USB stock opened at $41.45 on Tuesday. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The stock has a market capitalization of $64.58 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm’s fifty day simple moving average is $42.32 and its two-hundred day simple moving average is $39.67.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.71 by $0.28. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. As a group, analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 59.76%.

Analyst Ratings Changes

USB has been the topic of several research analyst reports. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. Finally, StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.41.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Insiders sold a total of 60,265 shares of company stock worth $2,535,903 in the last quarter. 0.23% of the stock is owned by company insiders.

U.S. Bancorp 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.