U.S. Bancorp $USB Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,846,512 shares of the financial services provider’s stock after selling 87,300 shares during the quarter. U.S. Bancorp makes up about 1.5% of Confluence Investment Management LLC’s investment portfolio, making the stock its 26th biggest position. Confluence Investment Management LLC’s holdings in U.S. Bancorp were worth $98,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Guerra Advisors Inc purchased a new position in U.S. Bancorp during the third quarter worth about $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the 3rd quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter valued at about $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $27,000. Finally, JPL Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Argus increased 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. JPMorgan Chase & Co. upped their price objective on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Oppenheimer increased their target price on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. TD Cowen lifted their target price on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods upped their price target on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.02.

U.S. Bancorp Price Performance

Shares of USB stock opened at $51.25 on Friday. The company has a market capitalization of $79.55 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The firm has a fifty day simple moving average of $55.52 and a 200-day simple moving average of $51.66. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter last year, the firm earned $1.07 EPS. U.S. Bancorp’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

About U.S. Bancorp

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.