U.S. Bancorp (NYSE:USB) Shares Sold by Coho Partners Ltd.

Coho Partners Ltd. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 15.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,683,177 shares of the financial services provider’s stock after selling 316,294 shares during the quarter. U.S. Bancorp accounts for about 3.7% of Coho Partners Ltd.’s portfolio, making the stock its 9th biggest holding. Coho Partners Ltd.’s holdings in U.S. Bancorp were worth $80,506,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC raised its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of U.S. Bancorp by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after purchasing an additional 436,252 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Stephens increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $47.32 on Friday. The firm has a market capitalization of $73.83 billion, a P/E ratio of 12.49, a PEG ratio of 1.77 and a beta of 1.04. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The business has a 50-day moving average of $48.80 and a 200-day moving average of $47.50. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business posted $0.99 EPS. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. Corporate 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.