Wellington Management Group LLP Has $4.88 Million Holdings in U.S. Bancorp (NYSE:USB)

Wellington Management Group LLP decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 23.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 101,946 shares of the financial services provider’s stock after selling 31,759 shares during the period. Wellington Management Group LLP’s holdings in U.S. Bancorp were worth $4,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Winch Advisory Services LLC grew its stake in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the period. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp in the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates lifted its stake in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $30,000. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on USB shares. Wells Fargo & Company cut their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Truist Financial reduced their price target on shares of U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy 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 $52.52.

U.S. Bancorp Trading Down 5.3 %

Shares of U.S. Bancorp stock opened at $37.22 on Friday. The stock has a market cap of $57.99 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The business’s 50 day moving average is $43.65 and its 200-day moving average is $47.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is currently owned by insiders.

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.