Madison Wealth Partners Inc Reduces Holdings in U.S. Bancorp $USB

Madison Wealth Partners Inc trimmed its stake in U.S. Bancorp (NYSE:USB) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,090 shares of the financial services provider’s stock after selling 500 shares during the period. Madison Wealth Partners Inc’s holdings in U.S. Bancorp were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in U.S. Bancorp during the 1st quarter valued at about $138,183,000. Vanguard Group Inc. lifted its position in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after acquiring an additional 2,393,383 shares during the period. American Century Companies Inc. lifted its position in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after acquiring an additional 1,493,318 shares during the period. Nordea Investment Management AB lifted its position in U.S. Bancorp by 192.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after acquiring an additional 1,311,746 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after acquiring an additional 1,045,509 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.0%

NYSE:USB opened at $45.66 on Monday. The company’s 50 day moving average price is $47.93 and its 200-day moving average price is $44.86. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market cap of $71.06 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.31 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. UBS Group lifted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. DA Davidson lifted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer dropped their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.48.

About U.S. Bancorp

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.