Allstate Corp Boosts Stock Position in U.S. Bancorp $USB

Key Points

• Allstate Corp increased its stake in U.S. Bancorp by 12.1%, owning 52,195 shares worth approximately $2.2 million after acquiring an additional 5,619 shares in Q1.
• U.S. Bancorp reported a quarterly EPS of $1.11, surpassing estimates, with revenues up 2% year-over-year, demonstrating solid financial performance.
• The firm declared a quarterly dividend of $0.50, translating to an annualized yield of 4.1%, with a payout ratio of 47.85%.

Allstate Corp lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,195 shares of the financial services provider's stock after acquiring an additional 5,619 shares during the period. Allstate Corp's holdings in U.S. Bancorp were worth $2,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. Wesbanco Bank Inc. boosted its stake in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after purchasing an additional 78,146 shares during the period. Crestwood Advisors Group LLC lifted its holdings in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock worth $286,000 after buying an additional 649 shares in the last quarter. Becker Capital Management Inc. boosted its position in shares of U.S. Bancorp by 1.5% in the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after acquiring an additional 8,204 shares during the period. United Community Bank grew its stake in U.S. Bancorp by 21.8% during the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after acquiring an additional 8,796 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in U.S. Bancorp by 9.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock worth $27,585,000 after acquiring an additional 55,054 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 4.5%

Shares of USB opened at $48.2410 on Friday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $45.70 and a two-hundred day simple moving average of $43.83. The firm has a market cap of $75.07 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.45 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the firm posted $0.98 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.1%. U.S. Bancorp's payout ratio is currently 47.85%.

Analyst Ratings Changes

Several research analysts have commented on USB shares. Oppenheimer raised their price target on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Morgan Stanley upped their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.55.

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.

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