Madison Asset Management LLC Acquires 32,412 Shares of U.S. Bancorp $USB

Madison Asset Management LLC grew its position in U.S. Bancorp (NYSE:USB) by 19.5% during the 4th quarter, HoldingsChannel reports. The fund owned 198,996 shares of the financial services provider’s stock after purchasing an additional 32,412 shares during the period. Madison Asset Management LLC’s holdings in U.S. Bancorp were worth $10,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Guerra Advisors Inc purchased a new stake in shares of U.S. Bancorp in the third quarter valued at $25,000. Financial Life Planners bought a new position in shares of U.S. Bancorp in the third quarter worth about $25,000. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp in the third quarter worth about $28,000. Finally, Binnacle Investments Inc grew its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Argus upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. cut their price target on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a report on Thursday, April 30th. Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, TD Cowen upped their price objective on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Down 3.3%

NYSE:USB opened at $52.70 on Thursday. U.S. Bancorp has a 1-year low of $42.21 and a 1-year high of $61.19. The company has a 50-day moving average of $53.95 and a 200 day moving average of $53.36. The firm has a market cap of $81.81 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s dividend payout ratio is 43.61%.

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.