Confluence Investment Management LLC Has $68.10 Million Position in U.S. Bancorp (NYSE:USB)

Confluence Investment Management LLC grew its position in U.S. Bancorp (NYSE:USB) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,061,261 shares of the financial services provider’s stock after purchasing an additional 19,927 shares during the period. Confluence Investment Management LLC owned about 0.13% of U.S. Bancorp worth $68,104,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in U.S. Bancorp by 3.9% in the first quarter. BlackRock Inc. now owns 104,397,877 shares of the financial services provider’s stock valued at $3,763,543,000 after buying an additional 3,909,037 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after acquiring an additional 60,227,825 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in U.S. Bancorp by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,837,595 shares of the financial services provider’s stock worth $1,688,496,000 after acquiring an additional 14,080,781 shares during the last quarter. FMR LLC increased its holdings in U.S. Bancorp by 61.3% during the 1st quarter. FMR LLC now owns 39,195,702 shares of the financial services provider’s stock valued at $1,413,005,000 after purchasing an additional 14,892,212 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 11.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,770,916 shares of the financial services provider’s stock valued at $1,254,700,000 after purchasing an additional 2,900,619 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,992 shares in the company, valued at approximately $6,637,932. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total value of $1,033,500.00. Following the transaction, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy A. Welsh sold 13,816 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the transaction, the insider now owns 119,058 shares of the company’s stock, valued at approximately $4,737,317.82. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on USB shares. Wedbush raised their target price on U.S. Bancorp from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. Oppenheimer lowered their price objective on shares of U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, August 18th. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. StockNews.com began coverage on shares of U.S. Bancorp in a research note on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Bank of America upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.33.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $35.41 on Thursday. The company has a market capitalization of $54.28 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.61 and a beta of 0.98. The firm’s 50 day simple moving average is $37.15 and its 200 day simple moving average is $35.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.95.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.44 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.48 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.42%. U.S. Bancorp’s payout ratio is 53.19%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.