U.S. Bancorp $USB Position Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in U.S. Bancorp (NYSE:USB) by 19.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 881,857 shares of the financial services provider’s stock after selling 212,987 shares during the quarter. Pictet Asset Management Holding SA’s holdings in U.S. Bancorp were worth $45,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Life Planners bought a new stake in U.S. Bancorp during the third quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter worth approximately $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp in the third quarter valued at $28,000. Binnacle Investments Inc lifted its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares during the last quarter. Finally, Rossby Financial LCC lifted its position in shares of U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 212 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Stephens started coverage on U.S. Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price target for the company. Barclays lifted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.57.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $60.46 on Wednesday. The company has a 50 day simple moving average of $56.28 and a 200-day simple moving average of $55.34. The firm has a market capitalization of $93.78 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $61.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s payout ratio is presently 43.61%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.