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

Key Points

• Confluence Investment Management LLC increased its stake in U.S. Bancorp by 1.8% during the second quarter, holding nearly 0.13% of the company, valued at approximately $88.37 million.
• Brokerages have recently upgraded their price targets for U.S. Bancorp, with Citigroup raising the target from $55.00 to $59.00 and multiple firms giving the stock a buy or strong-buy rating.
• U.S. Bancorp declared a quarterly dividend of $0.52 per share, up from $0.50, reflecting a dividend yield of 4.2% and a payout ratio of 47.85%.

Confluence Investment Management LLC grew its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,952,975 shares of the financial services provider's stock after acquiring an additional 33,808 shares during the quarter. Confluence Investment Management LLC owned about 0.13% of U.S. Bancorp worth $88,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of USB. Nuveen LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the period. GAMMA Investing LLC boosted its stake in shares of U.S. Bancorp by 4,160.7% during the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock valued at $65,340,000 after buying an additional 1,511,293 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock valued at $425,163,000 after buying an additional 1,493,318 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $64,257,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USB. Citigroup raised their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley raised their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. DA Davidson raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, The Goldman Sachs Group raised their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $49.13 on Friday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The business's fifty day moving average price is $46.85 and its two-hundred day moving average price is $44.01. The firm has a market capitalization of $76.46 billion, a PE ratio of 11.75, a P/E/G ratio of 1.55 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio is 47.85%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.

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