Madison Asset Management LLC Has $2.30 Million Stock Holdings in U.S. Bancorp $USB

Madison Asset Management LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 77.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,141 shares of the financial services provider’s stock after selling 154,855 shares during the period. Madison Asset Management LLC’s holdings in U.S. Bancorp were worth $2,296,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Cassaday & Co Wealth Management LLC raised its holdings in U.S. Bancorp by 3.2% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 9,749 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 303 shares in the last quarter. Convergence Investment Partners LLC grew its stake in U.S. Bancorp by 0.7% during the first quarter. Convergence Investment Partners LLC now owns 35,057 shares of the financial services provider’s stock worth $1,823,000 after buying an additional 241 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in U.S. Bancorp by 5.0% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 196,405 shares of the financial services provider’s stock valued at $10,215,000 after buying an additional 9,356 shares during the period. Legacy Wealth Managment LLC ID raised its position in shares of U.S. Bancorp by 21.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,426 shares of the financial services provider’s stock valued at $74,000 after buying an additional 253 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after buying an additional 93,025 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on USB shares. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $67.50 in a research note on Monday. BTIG Research set a $67.50 price objective on U.S. Bancorp in a research report on Monday. Robert W. Baird lifted their target price on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Finally, Truist Financial increased their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $67.00.

U.S. Bancorp Price Performance

USB stock opened at $64.48 on Thursday. The company has a fifty day moving average price of $58.48 and a 200-day moving average price of $56.30. The company has a market capitalization of $100.02 billion, a P/E ratio of 12.87, a PEG ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the firm posted $1.11 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. U.S. Bancorp’s payout ratio is presently 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.