24,980 U.S. Bancorp $USB Shares Purchased by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its U.S. Bancorp stake by 2% in the third quarter, acquiring 24,980 shares and bringing its holdings to 1.29 million shares valued at approximately $74.6 million. Institutional investors collectively own 77.6% of USB.
• Analysts maintain a generally favorable outlook, with U.S. Bancorp holding a consensus “Moderate Buy” rating and an average price target of $69.21. Recent targets range from $65.50 to $75.00.
• U.S. Bancorp exceeded quarterly earnings expectations, reporting $1.34 in EPS and $8.04 billion in revenue, while revenue rose 8.7% year over year. The company also raised its quarterly dividend to $0.54, equivalent to a 3.6% annualized yield.

Bank Julius Baer & Co. Ltd Zurich boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,289,432 shares of the financial services provider's stock after acquiring an additional 24,980 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.08% of U.S. Bancorp worth $74,567,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of USB. Virtue Capital Management LLC lifted its holdings in U.S. Bancorp by 2.4% during the third quarter. Virtue Capital Management LLC now owns 7,517 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 177 shares in the last quarter. Greenleaf Trust grew its holdings in U.S. Bancorp by 0.7% during the third quarter. Greenleaf Trust now owns 38,467 shares of the financial services provider's stock worth $2,222,000 after acquiring an additional 253 shares during the period. Bell Investment Advisors Inc boosted its holdings in U.S. Bancorp by 40.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the financial services provider's stock worth $55,000 after buying an additional 274 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $26,749,000. Finally, Profund Advisors LLC increased its holdings in U.S. Bancorp by 8.3% during the 3rd quarter. Profund Advisors LLC now owns 16,009 shares of the financial services provider's stock worth $925,000 after purchasing an additional 1,232 shares during the period. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares of the company's stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on USB. JPMorgan Chase & Co. increased their price objective on U.S. Bancorp from $65.00 to $65.50 and gave the company a "neutral" rating in a research note on Friday. DA Davidson reiterated a "buy" rating and set a $73.00 price objective on shares of U.S. Bancorp in a report on Friday, October 16th. Jefferies Financial Group raised U.S. Bancorp from a "hold" rating to a "buy" rating and lifted their price objective for the company from $60.00 to $75.00 in a report on Monday, July 6th. Wells Fargo & Company increased their price target on U.S. Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Finally, Oppenheimer raised their target price on shares of U.S. Bancorp from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.21.

U.S. Bancorp Stock Up 0.0%

USB opened at $59.47 on Monday. The stock has a market capitalization of $92.66 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.13 and a beta of 1.02. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average price of $59.88 and a 200-day moving average price of $58.03. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $8 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.54 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 42.11%.

U.S. Bancorp Company Profile

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.

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