Wellington Management Group LLP Trims Holdings in U.S. Bancorp (NYSE:USB)

Wellington Management Group LLP cut its position in shares of U.S. Bancorp (NYSE:USB) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,327 shares of the financial services provider’s stock after selling 2,503 shares during the quarter. Wellington Management Group LLP’s holdings in U.S. Bancorp were worth $1,875,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of USB. Scotia Capital Inc. grew its position in shares of U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares during the period. Focus Financial Network Inc. ADV acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $5,440,000. Spinnaker Trust purchased a new position in shares of U.S. Bancorp during the 4th quarter worth about $220,000. Morningstar Investment Management LLC boosted its position in shares of U.S. Bancorp by 760.8% in the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after acquiring an additional 74,094 shares during the last quarter. Finally, Tealwood Asset Management Inc. grew its holdings in U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after purchasing an additional 15,665 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Jefferies Financial Group raised their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of U.S. Bancorp in a report on Friday, June 21st. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $39.24 on Tuesday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The business has a 50 day simple moving average of $40.35 and a 200-day simple moving average of $41.70. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $61.23 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the firm posted $1.16 EPS. U.S. Bancorp’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

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.