U.S. Bancorp $USB Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of U.S. Bancorp (NYSE:USB) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,064,227 shares of the financial services provider’s stock after buying an additional 158,338 shares during the period. Pictet Asset Management Holding SA’s holdings in U.S. Bancorp were worth $61,470,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Mufg Bank LTD. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at $2,680,199,000. Bank of America Corp DE increased its position in U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP increased its position in U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp in the 2nd quarter valued at about $536,457,000. Finally, First Trust Advisors LP raised its stake in U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after purchasing an additional 2,314,081 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their target price on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Evercore reiterated an “outperform” rating and set a $67.00 price target (down from $72.00) on shares of U.S. Bancorp in a report on Wednesday, October 28th. DA Davidson reissued a “buy” rating and issued a $73.00 price objective (up from $65.00) on shares of U.S. Bancorp in a research report on Friday, October 16th. TD Cowen began coverage on shares of U.S. Bancorp in a research note on Thursday, October 8th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Stephens upped their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.65.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $61.02 on Tuesday. The company has a market cap of $95.06 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The business has a fifty day simple moving average of $59.62 and a 200-day simple moving average of $58.21.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.54 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 3.5%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.11%.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.