U.S. Bancorp $USB Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG increased its holdings in U.S. Bancorp (NYSE:USB) by 29.1% during the third quarter, Holdings Channel.com reports. The firm owned 95,639 shares of the financial services provider’s stock after acquiring an additional 21,571 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in U.S. Bancorp were worth $5,524,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in U.S. Bancorp during the first quarter valued at about $27,000. Main Street Group LTD bought a new position in shares of U.S. Bancorp during the first quarter valued at about $28,000. Archer Investment Corp purchased a new position in shares of U.S. Bancorp in the second quarter worth about $29,000. Parvin Asset Management LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth about $30,000. Finally, NFSG Corp purchased a new stake in U.S. Bancorp during the 1st quarter valued at about $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 1.8%

Shares of U.S. Bancorp stock traded up $1.04 during midday trading on Tuesday, reaching $58.90. 2,662,402 shares of the company’s stock traded hands, compared to its average volume of 9,231,374. The stock has a 50 day moving average of $60.69 and a 200-day moving average of $59.11. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a market cap of $91.76 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 5.28 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.7%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is 42.11%.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp 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 sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on USB. TD Cowen initiated coverage on U.S. Bancorp in a research note on Thursday, October 8th. They issued a “buy” rating and a $70.00 price target on the stock. Raymond James Financial dropped their price objective on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 6th. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. DA Davidson reaffirmed a “buy” rating and issued a $73.00 target price on shares of U.S. Bancorp in a research note on Friday. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $68.43.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.