Madison Investment Advisors LLC Purchases New Position in U.S. Bancorp (NYSE:USB)

Madison Investment Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 2,018,822 shares of the financial services provider’s stock, valued at approximately $96,560,000. U.S. Bancorp comprises about 1.1% of Madison Investment Advisors LLC’s holdings, making the stock its 28th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of USB. FMR LLC boosted its stake in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Franklin Resources Inc. grew its position in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at $184,733,000. Charles Schwab Investment Management Inc. raised its holdings in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in U.S. Bancorp in the fourth quarter worth about $111,274,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.3 %

Shares of USB opened at $41.70 on Thursday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The stock has a market cap of $64.96 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The firm’s fifty day moving average is $47.17 and its two-hundred day moving average is $47.84. 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 (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the company earned $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.80%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Finally, Barclays boosted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.21.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last quarter. Company insiders own 0.23% of the company’s stock.

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.