Madison Asset Management LLC Takes $2.56 Million Position in U.S. Bancorp $USB

Madison Asset Management LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) in the second quarter, Holdings Channel.com reports. The fund purchased 42,418 shares of the financial services provider’s stock, valued at approximately $2,562,000.

Several other institutional investors have also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in U.S. Bancorp during the first quarter worth $27,000. Main Street Group LTD acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $28,000. Rossby Financial LCC lifted its stake in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares during the last quarter. NFSG Corp purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $31,000. Finally, JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on USB shares. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Barclays increased their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Citigroup reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a research note on Friday, July 31st. Finally, Robert W. Baird upped their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

Insider Activity

In other news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $61.93 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $96.49 billion, a PE ratio of 12.36, a P/E/G ratio of 1.03 and a beta of 0.96. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The business’s fifty day moving average price is $62.34 and its 200 day moving average price is $57.60.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company earned $1.11 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. U.S. Bancorp’s dividend payout ratio is 41.52%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.