U.S. Bancorp (NYSE:USB) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of U.S. Bancorp (NYSE:USB) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 929,408 shares of the financial services provider’s stock after purchasing an additional 109,043 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of U.S. Bancorp worth $44,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its holdings in U.S. Bancorp by 26.8% in the third quarter. Rockefeller Capital Management L.P. now owns 325,838 shares of the financial services provider’s stock worth $14,900,000 after acquiring an additional 68,852 shares during the last quarter. Captrust Financial Advisors boosted its position in U.S. Bancorp by 0.9% during the 3rd quarter. Captrust Financial Advisors now owns 231,910 shares of the financial services provider’s stock valued at $10,605,000 after purchasing an additional 2,089 shares during the period. Encompass More Asset Management bought a new position in U.S. Bancorp during the 3rd quarter worth $230,000. Tradition Wealth Management LLC grew its stake in U.S. Bancorp by 1.5% during the 3rd quarter. Tradition Wealth Management LLC now owns 57,235 shares of the financial services provider’s stock worth $2,617,000 after buying an additional 863 shares during the last quarter. Finally, Morton Community Bank increased its position in U.S. Bancorp by 1.6% in the third quarter. Morton Community Bank now owns 71,830 shares of the financial services provider’s stock worth $3,285,000 after buying an additional 1,140 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on USB shares. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Barclays raised their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Compass Point boosted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup decreased their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Oppenheimer lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.21.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $42.21 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $65.77 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The stock has a fifty day moving average of $45.74 and a 200-day moving average of $47.59. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.