Pictet Asset Management Holding SA Has $44.45 Million Holdings in U.S. Bancorp (NYSE:USB)

Pictet Asset Management Holding SA grew its position in shares of U.S. Bancorp (NYSE:USB) by 13.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 929,408 shares of the financial services provider’s stock after acquiring an additional 109,043 shares during the period. Pictet Asset Management Holding SA’s holdings in U.S. Bancorp were worth $44,454,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the last quarter. State Street Corp lifted its stake in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC increased its position in U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after buying an additional 599,852 shares during the last quarter. Finally, Amundi increased its position in U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after buying an additional 1,341,407 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 2.4 %

USB opened at $42.21 on Monday. The firm has a market cap of $65.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. 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 firm’s 50-day simple moving average is $45.74 and its 200-day simple moving average is $47.59. U.S. Bancorp has a twelve month low of $37.81 and a twelve month 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 analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on USB shares. Morgan Stanley decreased their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Barclays upped their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group lowered their target price on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.

About U.S. Bancorp

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.