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

Key Points

• Madison Asset Management increased its U.S. Bancorp stake by 19.5% in the fourth quarter, buying 32,412 additional shares to bring its total holdings to 198,996 shares worth about $10.6 million.
• Several analysts remain positive on USB, with a consensus rating of Moderate Buy and an average price target of $61.20. Recent note changes included higher targets from Barclays and Evercore, while Jefferies kept a hold rating.
• U.S. Bancorp reported better-than-expected quarterly earnings, posting $1.18 EPS on revenue of $7.32 billion, and it also paid a quarterly dividend of $0.52 per share, implying a 3.9% yield.

Madison Asset Management LLC lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,996 shares of the financial services provider's stock after acquiring an additional 32,412 shares during the quarter. Madison Asset Management LLC's holdings in U.S. Bancorp were worth $10,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Gilbert & Cook Inc. grew its stake in shares of U.S. Bancorp by 1.2% in the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock worth $832,000 after acquiring an additional 184 shares during the period. Genesis Private Wealth LLC grew its stake in shares of U.S. Bancorp by 2.3% in the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock worth $445,000 after acquiring an additional 187 shares during the period. Lantz Financial LLC grew its stake in shares of U.S. Bancorp by 0.4% in the fourth quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider's stock worth $2,634,000 after acquiring an additional 199 shares during the period. Park National Corp OH grew its stake in shares of U.S. Bancorp by 0.7% in the fourth quarter. Park National Corp OH now owns 27,364 shares of the financial services provider's stock worth $1,460,000 after acquiring an additional 200 shares during the period. Finally, Romano Brothers AND Company grew its stake in shares of U.S. Bancorp by 2.4% in the fourth quarter. Romano Brothers AND Company now owns 9,156 shares of the financial services provider's stock worth $489,000 after acquiring an additional 211 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on USB shares. Argus lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Jefferies Financial Group restated a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Truist Financial cut their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, April 17th. Barclays boosted their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, Evercore boosted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $52.70 on Thursday. 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 has a 1-year low of $42.21 and a 1-year high of $61.19. The company has a market capitalization of $81.81 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.98 and a beta of 1.00. The firm's 50 day simple moving average is $53.95 and its two-hundred day simple moving average is $53.36.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts expect that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

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

U.S. Bancorp Company 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.

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