Madison Asset Management LLC Sells 154,855 Shares of U.S. Bancorp $USB

Madison Asset Management LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 77.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,141 shares of the financial services provider’s stock after selling 154,855 shares during the quarter. 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 institutional investors have also recently bought and sold shares of the stock. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the 4th quarter worth $25,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp in the first quarter valued at about $27,000. Main Street Group LTD acquired a new position in shares of U.S. Bancorp during the first quarter worth about $28,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp in the 3rd quarter valued at approximately $28,000. Finally, Binnacle Investments Inc lifted its stake in U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $64.48 on Thursday. The business’s 50 day moving average price is $58.48 and its two-hundred day moving average price is $56.30. The company has a market cap of $100.02 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $64.84.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating 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 $7.71 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 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on USB shares. Royal Bank Of Canada raised their price target on shares of U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Monday. BTIG Research set a $67.50 price objective on U.S. Bancorp in a report on Monday. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on 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 transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

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.