Coho Partners Ltd. lowered its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,280,245 shares of the financial services provider’s stock after selling 770,256 shares during the period. U.S. Bancorp comprises 3.3% of Coho Partners Ltd.’s portfolio, making the stock its 16th largest position. Coho Partners Ltd. owned 0.21% of U.S. Bancorp worth $141,969,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scotia Capital Inc. boosted its holdings in U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares during the last quarter. National Bank of Canada FI boosted its holdings in U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock valued at $44,555,000 after purchasing an additional 1,032,866 shares during the last quarter. Tealwood Asset Management Inc. boosted its holdings in U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after purchasing an additional 15,665 shares during the last quarter. Van ECK Associates Corp boosted its holdings in U.S. Bancorp by 19.4% in the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after purchasing an additional 1,410,324 shares during the last quarter. Finally, First Financial Bank Trust Division boosted its holdings in U.S. Bancorp by 3.0% in the third quarter. First Financial Bank Trust Division now owns 34,355 shares of the financial services provider’s stock valued at $1,136,000 after purchasing an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Morgan Stanley increased their target price on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Oppenheimer increased their target price on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Robert W. Baird downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Friday, December 15th. Odeon Capital Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price on the stock in a report on Thursday, December 14th. Finally, Stephens downgraded U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.35.
Check Out Our Latest Stock Analysis on USB
U.S. Bancorp Price Performance
Shares of USB stock traded down $0.27 during mid-day trading on Friday, hitting $42.08. 32,597,116 shares of the stock traded hands, compared to its average volume of 9,457,146. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The firm has a market cap of $65.57 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04. The company’s 50-day simple moving average is $41.84 and its 200-day simple moving average is $38.45. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current year.
U.S. Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Wednesday, March 27th. U.S. Bancorp’s payout ratio is 59.76%.
Insider Buying and Selling
In related news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the transaction, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the transaction, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders have sold 60,265 shares of company stock worth $2,535,903 in the last three months. 0.23% of the stock is currently owned by insiders.
U.S. Bancorp Company 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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