21,571 U.S. Bancorp $USB Shares Purchased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its position in U.S. Bancorp (NYSE:USB) by 29.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,639 shares of the financial services provider’s stock after buying 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 large investors also recently modified their holdings of the company. Archer Investment Corp bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $29,000. Parvin Asset Management LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $30,000. Financial Life Planners bought a new position in U.S. Bancorp in the 1st quarter valued at $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter valued at $28,000. Finally, NFSG Corp purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at $31,000. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

USB traded up $1.04 during trading on Tuesday, reaching $58.90. The stock had a trading volume of 2,662,402 shares, compared to its average volume of 9,231,374. The stock has a market cap of $91.76 billion, a PE ratio of 11.48, a PEG 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 has a one year low of $45.02 and a one year high of $66.07. The business has a 50-day moving average of $60.69 and a 200-day moving average of $59.11.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis 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 payout ratio is 42.11%.

Analysts Set New Price Targets

Several research firms have recently weighed in on USB. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Thursday. Oppenheimer increased their price objective on U.S. Bancorp from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday. TD Cowen began coverage on U.S. Bancorp in a research note on Thursday, October 8th. They set a “buy” rating and a $70.00 price objective for the company. DA Davidson restated a “buy” rating and set a $73.00 target price on shares of U.S. Bancorp in a research report on Friday. Finally, HSBC upped their target price on U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.43.

About U.S. Bancorp

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.