Banque Pictet & Cie SA Sells 7,969 Shares of U.S. Bancorp (USB)

Banque Pictet & Cie SA lowered its holdings in U.S. Bancorp (NYSE:USB) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,098 shares of the financial services provider’s stock after selling 7,969 shares during the period. Banque Pictet & Cie SA’s holdings in U.S. Bancorp were worth $6,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Shelton Capital Management increased its stake in shares of U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after acquiring an additional 45,116 shares during the period. Twin Tree Management LP increased its stake in shares of U.S. Bancorp by 63.2% during the second quarter. Twin Tree Management LP now owns 34,326 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 13,295 shares during the period. Oarsman Capital Inc. increased its stake in shares of U.S. Bancorp by 4.5% during the second quarter. Oarsman Capital Inc. now owns 11,430 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 488 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of U.S. Bancorp by 16.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock valued at $19,158,000 after acquiring an additional 52,380 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of U.S. Bancorp by 7.5% during the second quarter. Ontario Teachers Pension Plan Board now owns 210,974 shares of the financial services provider’s stock valued at $10,954,000 after acquiring an additional 14,678 shares during the period. 73.95% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp (NYSE:USB) opened at $54.98 on Friday. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $56.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $91,240.00, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. equities analysts anticipate that U.S. Bancorp will post 3.42 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s payout ratio is 35.71%.

A number of research analysts recently commented on the stock. Barclays raised their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and raised their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Nomura lifted their price target on shares of U.S. Bancorp from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $55.38.

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About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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