Madison Investment Holdings Inc. cut its position in shares of U.S. Bancorp (NYSE:USB) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,809,834 shares of the financial services provider’s stock after selling 93 shares during the period. U.S. Bancorp makes up approximately 1.7% of Madison Investment Holdings Inc.’s portfolio, making the stock its 5th largest position. Madison Investment Holdings Inc.’s holdings in U.S. Bancorp were worth $93,206,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in USB. Orrstown Financial Services Inc. raised its stake in U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock valued at $116,000 after buying an additional 475 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in U.S. Bancorp during the first quarter valued at $155,000. WealthTrust Arizona LLC raised its stake in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares during the period. American National Bank acquired a new stake in U.S. Bancorp during the first quarter valued at $167,000. Finally, Tradewinds Capital Management LLC raised its stake in U.S. Bancorp by 87.4% in the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,708 shares during the period. 76.25% of the stock is currently owned by institutional investors.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.388% during midday trading on Tuesday, reaching $52.995. The company’s stock had a trading volume of 2,509,051 shares. The company has a market capitalization of $88.65 billion, a P/E ratio of 16.011 and a beta of 0.86. The company’s 50-day moving average price is $52.38 and its 200 day moving average price is $52.55. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The business’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post $3.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 33.63%.
U.S. Bancorp announced that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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Several analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday. Wells Fargo & Company initiated coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price for the company. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.85.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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