Madison Asset Management LLC Purchases New Shares in U.S. Bancorp $USB

Key Points

• Madison Asset Management bought 42,418 shares of U.S. Bancorp in the second quarter, valued at approximately $2.56 million. Institutional investors and hedge funds collectively own 77.60% of the company.
• U.S. Bancorp reported quarterly earnings of $1.35 per share, exceeding analyst expectations of $1.28, while revenue reached $7.69 billion versus the $7.58 billion consensus estimate.
• The company pays a quarterly dividend of $0.52 per share, equivalent to an annualized $2.08 dividend and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.06.

Madison Asset Management LLC purchased a new position in U.S. Bancorp (NYSE:USB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 42,418 shares of the financial services provider's stock, valued at approximately $2,562,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $4,788,000. Foster & Motley Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $2,968,000. Commerzbank Aktiengesellschaft FI purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $10,490,000. Trust Co. of Vermont purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $3,845,000. Finally, Mufg Bank LTD. acquired a new stake in U.S. Bancorp in the 2nd quarter worth about $2,680,199,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.4%

USB stock opened at $61.93 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average of $62.34 and a two-hundred day moving average of $57.60. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a market cap of $96.49 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.03 and a beta of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results 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 business had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the firm posted $1.11 EPS. As a group, analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. U.S. Bancorp's payout ratio is 41.52%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Robert W. Baird increased their target price on U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, July 6th. Raymond James Financial started coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 price target for the company. UBS Group increased their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, DA Davidson raised their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the company a "buy" rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $67.06.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company's stock.

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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