Allstate Corp Makes New $2.23 Million Investment in U.S. Bancorp (NYSE:USB)

Allstate Corp acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,576 shares of the financial services provider’s stock, valued at approximately $2,228,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. DnB Asset Management AS raised its position in shares of U.S. Bancorp by 0.5% during the fourth quarter. DnB Asset Management AS now owns 606,525 shares of the financial services provider’s stock worth $29,010,000 after purchasing an additional 2,855 shares during the period. Premier Fund Managers Ltd raised its holdings in U.S. Bancorp by 1.5% during the fourth quarter. Premier Fund Managers Ltd now owns 153,820 shares of the financial services provider’s stock worth $7,422,000 after buying an additional 2,300 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of U.S. Bancorp by 13.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 929,408 shares of the financial services provider’s stock valued at $44,454,000 after buying an additional 109,043 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at about $2,430,000. Finally, Providence Capital Advisors LLC increased its position in shares of U.S. Bancorp by 142.4% during the fourth quarter. Providence Capital Advisors LLC now owns 196,214 shares of the financial services provider’s stock worth $9,385,000 after acquiring an additional 115,256 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup cut their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Bank of America lowered their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Ten 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 $53.21.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $42.21 on Friday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The stock’s 50-day simple moving average is $45.74 and its 200 day simple moving average is $47.57. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 EPS. Research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is 52.77%.

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.