Lombard Odier Asset Management Switzerland SA Acquires 69,562 Shares of U.S. Bancorp $USB

Lombard Odier Asset Management Switzerland SA raised its holdings in U.S. Bancorp (NYSE:USB) by 81.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,257 shares of the financial services provider’s stock after acquiring an additional 69,562 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in U.S. Bancorp were worth $8,075,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in USB. Lombard Odier Asset Management USA Corp acquired a new position in shares of U.S. Bancorp during the 1st quarter worth $330,000. Waverly Advisors LLC lifted its stake in shares of U.S. Bancorp by 9.5% in the 1st quarter. Waverly Advisors LLC now owns 82,115 shares of the financial services provider’s stock valued at $4,271,000 after purchasing an additional 7,112 shares during the last quarter. Wealth Alliance LLC lifted its stake in shares of U.S. Bancorp by 1.3% in the 1st quarter. Wealth Alliance LLC now owns 36,438 shares of the financial services provider’s stock valued at $1,895,000 after purchasing an additional 457 shares during the last quarter. Bollard Group LLC boosted its holdings in U.S. Bancorp by 18.2% in the first quarter. Bollard Group LLC now owns 15,900 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Morningstar Investment Management LLC boosted its holdings in U.S. Bancorp by 6.2% in the first quarter. Morningstar Investment Management LLC now owns 107,519 shares of the financial services provider’s stock worth $5,592,000 after purchasing an additional 6,250 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on USB shares. Truist Financial raised their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a report on Friday, July 17th. Morgan Stanley upped their price target on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $67.50 in a report on Monday, July 20th. Stephens raised their price objective on 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. Finally, Barclays boosted their target price on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $67.00.

U.S. Bancorp Stock Performance

Shares of USB opened at $63.91 on Friday. The company has a market capitalization of $99.14 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. U.S. Bancorp has a one year low of $43.46 and a one year high of $64.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company’s fifty day moving average price is $58.89 and its 200 day moving average price is $56.42.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business earned $1.11 EPS. As a group, analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s payout ratio is currently 41.52%.

U.S. Bancorp Profile

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.