Confluence Investment Management LLC Lowers Stake in U.S. Bancorp (NYSE:USB)

Confluence Investment Management LLC cut its position in shares of U.S. Bancorp (NYSE:USB) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,959,428 shares of the financial services provider’s stock after selling 9,946 shares during the quarter. U.S. Bancorp comprises 1.3% of Confluence Investment Management LLC’s portfolio, making the stock its 29th biggest position. Confluence Investment Management LLC owned about 0.13% of U.S. Bancorp worth $93,719,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its stake in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter worth $33,000. Legacy Investment Solutions LLC purchased a new position in shares of U.S. Bancorp in the 3rd quarter valued at $40,000. Finally, Northwest Bank & Trust Co lifted its holdings in shares of U.S. Bancorp by 87.4% during the 3rd quarter. Northwest Bank & Trust Co now owns 937 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 437 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

NYSE USB traded down $0.26 during trading hours on Thursday, reaching $47.57. The company’s stock had a trading volume of 1,402,865 shares, compared to its average volume of 8,176,125. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $50.19 and a 200 day simple moving average of $46.08. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The stock has a market cap of $74.21 billion, a PE ratio of 14.55, a PEG ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. Equities research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp announced that its board has authorized a share buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on USB shares. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Finally, Compass Point boosted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.98.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.