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

Key Points

• Coho Partners Ltd. reduced its stake in U.S. Bancorp by 15.2%, selling 181,656 shares and retaining ownership of 1,016,689 shares, which accounts for 3.4% of their total holdings.
• U.S. Bancorp recently increased its quarterly dividend to $0.52 from $0.50, resulting in an annualized yield of 4.6% and a payout ratio of 49.76%.
• Truist Financial raised its price target for U.S. Bancorp from $49.00 to $51.00, maintaining a "hold" rating, while DA Davidson set a new target at $52.00 with a "buy" rating.

Coho Partners Ltd. trimmed its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 15.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. 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 accounts for about 3.4% of Coho Partners Ltd.'s holdings, making the stock its 17th largest position. Coho Partners Ltd. owned about 0.07% of U.S. Bancorp worth $46,005,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the first quarter valued at about $26,000. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp in the first quarter worth approximately $27,000. YANKCOM Partnership increased its position in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the first quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after buying an additional 420 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday, September 17th. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Weiss Ratings reiterated a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the company an "equal weight" rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.13.

U.S. Bancorp Trading Down 1.8%

USB opened at $45.62 on Friday. The business has a 50 day simple moving average of $47.91 and a two-hundred day simple moving average of $44.78. The firm has a market capitalization 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 company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.U.S. Bancorp's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. Analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

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

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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