Allspring Global Investments Holdings LLC Buys 24,596 Shares of U.S. Bancorp $USB

Allspring Global Investments Holdings LLC raised its stake in U.S. Bancorp (NYSE:USB) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,098 shares of the financial services provider’s stock after buying an additional 24,596 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in U.S. Bancorp were worth $14,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Mufg Bank LTD. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $2,680,199,000. Bank of America Corp DE raised its stake in U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in U.S. Bancorp in the 2nd quarter valued at about $536,457,000. Finally, First Trust Advisors LP boosted its holdings in U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after purchasing an additional 2,314,081 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on USB. Barclays raised their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. TD Cowen began coverage on shares of U.S. Bancorp in a research report on Thursday, October 8th. They set a “buy” rating and a $70.00 price objective on the stock. Stephens upped their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. CLSA set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. Finally, Royal Bank Of Canada dropped their price target on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Trading Up 0.9%

NYSE:USB opened at $60.99 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $95.04 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.02. The firm’s 50 day moving average is $59.50 and its 200 day moving average is $58.30. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the company earned $1.22 earnings per share. U.S. Bancorp’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.