Wellington Management Group LLP Has $6.11 Million Stake in U.S. Bancorp (NYSE:USB)

Wellington Management Group LLP cut its stake in U.S. Bancorp (NYSE:USB) by 65.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,705 shares of the financial services provider’s stock after selling 253,085 shares during the quarter. Wellington Management Group LLP’s holdings in U.S. Bancorp were worth $6,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the 2nd quarter worth about $25,000. Frazier Financial Advisors LLC grew its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the second quarter worth $33,000. Finally, Kimelman & Baird LLC purchased a new position in U.S. Bancorp in the second quarter worth $40,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on USB shares. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler upped their price objective on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.50.

U.S. Bancorp Trading Up 0.6 %

Shares of USB stock opened at $51.35 on Tuesday. The company has a market capitalization of $80.11 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business’s fifty day moving average is $49.93 and its 200 day moving average is $45.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has approved a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.