Confluence Investment Management LLC Has $81.03 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Confluence Investment Management LLC cut its stake in U.S. Bancorp (NYSE:USB - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,919,167 shares of the financial services provider's stock after selling 40,261 shares during the period. Confluence Investment Management LLC owned 0.12% of U.S. Bancorp worth $81,027,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares during the period. FMR LLC grew its holdings in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the period. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the period. Finally, Amundi lifted its position in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after purchasing an additional 1,341,407 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of USB stock traded down $0.20 during trading hours on Monday, reaching $43.40. The company's stock had a trading volume of 2,435,139 shares, compared to its average volume of 9,073,690. The firm's 50 day simple moving average is $41.00 and its 200-day simple moving average is $45.55. The company has a market capitalization of $67.61 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the business posted $0.78 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial cut their target price on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Oppenheimer boosted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen cut U.S. Bancorp from a "hold" rating to a "sell" rating in a report on Friday. Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Finally, Raymond James reaffirmed an "outperform" rating and set a $51.00 price objective (down from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $50.89.

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.