Confluence Investment Management LLC Sells 49,485 Shares of U.S. Bancorp $USB

Confluence Investment Management LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,734,918 shares of the financial services provider’s stock after selling 49,485 shares during the period. U.S. Bancorp accounts for approximately 1.6% of Confluence Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Confluence Investment Management LLC’s holdings in U.S. Bancorp were worth $104,789,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Clayton Financial Group LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter valued at $28,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp in the 3rd quarter valued at $28,000. Finally, Binnacle Investments Inc grew its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Tuesday, July 21st. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. CLSA set a $67.50 target price on U.S. Bancorp in a research note on Monday, July 20th. DA Davidson raised their price target on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.06.

U.S. Bancorp Trading Up 1.5%

NYSE USB opened at $63.93 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The stock’s 50-day simple moving average is $60.00 and its two-hundred day simple moving average is $56.78. U.S. Bancorp has a twelve month low of $43.83 and a twelve month high of $64.84. The company has a market capitalization of $99.16 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.03 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.71 billion during 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 prior year, the business earned $1.11 EPS. Research analysts forecast that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently 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.