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

Confluence Investment Management LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,734,918 shares of the financial services provider's stock after selling 49,485 shares during the quarter. U.S. Bancorp comprises 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 23rd biggest holding. Confluence Investment Management LLC owned about 0.11% of U.S. Bancorp worth $104,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. WealthPoint Financial LLC raised its stake in U.S. Bancorp by 13.2% during the 1st quarter. WealthPoint Financial LLC now owns 4,795 shares of the financial services provider's stock worth $249,000 after buying an additional 561 shares during the period. Ballast Advisors LLC bought a new position in U.S. Bancorp in the first quarter worth approximately $111,000. FAS Wealth Partners Inc. grew its stake in U.S. Bancorp by 0.9% in the first quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider's stock valued at $1,038,000 after acquiring an additional 186 shares during the period. Parallel Advisors LLC grew its stake in U.S. Bancorp by 5.4% in the first quarter. Parallel Advisors LLC now owns 20,499 shares of the financial services provider's stock valued at $1,066,000 after acquiring an additional 1,046 shares during the period. Finally, First Nebraska Trust Co bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $6,425,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research reports. Wells Fargo & Company upped their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Oppenheimer lifted their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada raised their price objective on shares of U.S. Bancorp from $61.00 to $68.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $67.06.

Insiders Place Their Bets

In related news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company's stock.

U.S. Bancorp Trading Up 1.5%

NYSE:USB opened at $63.93 on Tuesday. U.S. Bancorp has a 12 month low of $43.83 and a 12 month high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm's 50 day moving average is $60.00 and its 200 day moving average is $56.78. The stock has a market capitalization of $99.16 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the company earned $1.11 EPS. Sell-side analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio is presently 41.52%.

U.S. Bancorp Company 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.

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