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

Confluence Investment Management LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,846,512 shares of the financial services provider’s stock after selling 87,300 shares during the quarter. U.S. Bancorp accounts for 1.5% of Confluence Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Confluence Investment Management LLC owned approximately 0.12% of U.S. Bancorp worth $98,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in USB. Brighton Jones LLC boosted its stake in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Empowered Funds LLC increased its stake in U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC increased its stake in U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in U.S. Bancorp during the second quarter worth $425,000. Finally, LSV Asset Management raised its holdings in U.S. Bancorp by 349.2% during the second quarter. LSV Asset Management now owns 417,800 shares of the financial services provider’s stock worth $18,905,000 after purchasing an additional 324,800 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp 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 directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

USB has been the topic of several research reports. Royal Bank Of Canada upped their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Argus lifted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Evercore boosted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Wolfe Research cut shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Finally, Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.02.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $51.25 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $61.19. The company has a market capitalization of $79.55 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.91 and a beta of 1.04. The stock has a fifty day moving average of $55.52 and a two-hundred day moving average of $51.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

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.