Confluence Investment Management LLC Acquires Shares of 1,684,478 U.S. Bancorp (USB)

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Confluence Investment Management LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 1,684,478 shares of the financial services provider’s stock, valued at approximately $81,175,000. U.S. Bancorp makes up about 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 29th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Pineno Levin & Ford Asset Management Inc. grew its holdings in shares of U.S. Bancorp by 3.6% in the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 5,750 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 200 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of U.S. Bancorp by 4.3% in the fourth quarter. Belpointe Asset Management LLC now owns 4,955 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 206 shares in the last quarter. First Personal Financial Services grew its holdings in shares of U.S. Bancorp by 3.3% in the fourth quarter. First Personal Financial Services now owns 6,491 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 207 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of U.S. Bancorp by 3.6% in the fourth quarter. Capital Investment Advisors LLC now owns 5,988 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 209 shares in the last quarter. Finally, Bell Rock Capital LLC grew its holdings in shares of U.S. Bancorp by 16.9% in the fourth quarter. Bell Rock Capital LLC now owns 1,450 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Barclays lifted their price objective on shares of U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 2nd. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Robert W. Baird lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Monday, January 28th. Finally, Jefferies Financial Group lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $58.08.

In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,737 shares of U.S. Bancorp stock in a transaction on Monday, February 4th. The shares were sold at an average price of $51.50, for a total transaction of $758,955.50. Following the completion of the transaction, the insider now directly owns 61,737 shares of the company’s stock, valued at $3,179,455.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by insiders.

NYSE USB opened at $50.28 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. The firm has a market cap of $80.37 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.66 and a beta of 1.07. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $55.56.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.73 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.64%. U.S. Bancorp’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Analysts predict that U.S. Bancorp will post 4.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.94%. The ex-dividend date was Thursday, March 28th. U.S. Bancorp’s payout ratio is 36.10%.

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U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: What are benefits of a growth and income fund?

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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