Banque Pictet & Cie SA Buys New Stake in U.S. Bancorp (NYSE:USB)

Banque Pictet & Cie SA bought a new stake in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,000 shares of the financial services provider’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Compagnie Lombard Odier SCmA grew its holdings in shares of U.S. Bancorp by 44.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 86,500 shares of the financial services provider’s stock valued at $4,137,000 after purchasing an additional 26,419 shares in the last quarter. Values Added Financial LLC grew its holdings in shares of U.S. Bancorp by 50.3% in the fourth quarter. Values Added Financial LLC now owns 6,971 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 2,333 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in U.S. Bancorp by 35.8% during the fourth quarter. Vontobel Holding Ltd. now owns 31,153 shares of the financial services provider’s stock worth $1,490,000 after buying an additional 8,214 shares during the period. Catalyst Financial Partners LLC boosted its stake in U.S. Bancorp by 4.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 7,483 shares of the financial services provider’s stock worth $358,000 after buying an additional 288 shares during the period. Finally, IMS Capital Management boosted its stake in U.S. Bancorp by 3.2% during the fourth quarter. IMS Capital Management now owns 49,467 shares of the financial services provider’s stock worth $2,366,000 after buying an additional 1,516 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’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 in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

USB stock opened at $47.73 on Friday. The company has a market capitalization of $74.46 billion, a P/E ratio of 12.59, a PEG ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business has a 50-day moving average price of $48.61 and a 200 day moving average price of $47.52. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analyst Upgrades and Downgrades

Several research analysts have commented on USB shares. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays lifted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

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.