Coho Partners Ltd. Sells 181,656 Shares of U.S. Bancorp $USB

by · The Cerbat Gem

Coho Partners Ltd. decreased its position in U.S. Bancorp (NYSE:USBFree Report) by 15.2% in the second quarter, Holdings Channel.com reports. The firm owned 1,016,689 shares of the financial services provider’s stock after selling 181,656 shares during the quarter. U.S. Bancorp comprises approximately 3.4% of Coho Partners Ltd.’s investment portfolio, making the stock its 17th largest position. Coho Partners Ltd.’s holdings in U.S. Bancorp were worth $46,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in USB. Crestwood Advisors Group LLC increased its stake in shares of U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 649 shares in the last quarter. Ally Financial Inc. increased its stake in shares of U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after acquiring an additional 10,000 shares in the last quarter. United Community Bank increased its stake in shares of U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock worth $2,072,000 after acquiring an additional 8,796 shares in the last quarter. Jump Financial LLC increased its stake in shares of U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after acquiring an additional 799,368 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of U.S. Bancorp by 9.2% during the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider’s stock valued at $27,585,000 after purchasing an additional 55,054 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.8%

U.S. Bancorp stock opened at $45.62 on Friday. The firm has a market cap of $70.99 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.36 and a beta of 1.06. The stock has a fifty day simple moving average of $47.91 and a two-hundred day simple moving average of $44.78. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USBGet Free Report) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the company earned $1.03 EPS. U.S. Bancorp’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.76%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on USB. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. DA Davidson raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Evercore ISI raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Truist Financial raised their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.13.

Read Our Latest Report on USB

U.S. Bancorp Company Profile

(Free Report)

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.

Further Reading

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