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

Pictet Asset Management Holding SA cut its position in shares of U.S. Bancorp (NYSE:USB) by 19.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 881,857 shares of the financial services provider’s stock after selling 212,987 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of U.S. Bancorp worth $45,865,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in USB. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at about $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp during the third quarter valued at approximately $28,000. Binnacle Investments Inc raised its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the period. Finally, Rossby Financial LCC lifted its holdings in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.3%

NYSE:USB opened at $60.46 on Wednesday. The stock has a market cap of $93.78 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.06 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $61.88. The business has a fifty day moving average of $56.28 and a 200-day moving average of $55.34.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. Equities analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 16th. Royal Bank Of Canada boosted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Barclays lifted their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.57.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Company 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.