Coho Partners Ltd. Sells 484,832 Shares of U.S. Bancorp (NYSE:USB)

Coho Partners Ltd. cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,198,345 shares of the financial services provider's stock after selling 484,832 shares during the period. U.S. Bancorp makes up approximately 3.1% of Coho Partners Ltd.'s portfolio, making the stock its 20th biggest position. Coho Partners Ltd. owned approximately 0.08% of U.S. Bancorp worth $50,594,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in USB. Brighton Jones LLC raised its position in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Private Advisor Group LLC boosted its holdings in U.S. Bancorp by 2.4% in the fourth quarter. Private Advisor Group LLC now owns 117,252 shares of the financial services provider's stock worth $5,608,000 after acquiring an additional 2,709 shares in the last quarter. Ieq Capital LLC boosted its holdings in U.S. Bancorp by 15.6% in the fourth quarter. Ieq Capital LLC now owns 81,050 shares of the financial services provider's stock worth $3,877,000 after acquiring an additional 10,935 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in U.S. Bancorp by 10.3% in the fourth quarter. Handelsbanken Fonder AB now owns 438,943 shares of the financial services provider's stock worth $20,995,000 after acquiring an additional 41,059 shares in the last quarter. Finally, Boston Financial Mangement LLC bought a new position in U.S. Bancorp in the fourth quarter worth approximately $204,000. 77.60% of the stock is owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $43.34 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock's 50 day moving average price is $42.25 and its 200-day moving average price is $44.73. The company has a market capitalization of $67.53 billion, a PE ratio of 10.73, a PEG ratio of 1.63 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the business earned $0.78 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.61%. U.S. Bancorp's payout ratio is presently 49.50%.

Analysts Set New Price Targets

Several research analysts have issued reports on USB shares. Keefe, Bruyette & Woods cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Barclays cut their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Truist Financial cut their price target on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. DA Davidson cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank Of Canada cut their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.72.

U.S. Bancorp Profile

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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