Bank Julius Baer & Co. Ltd Zurich Cuts Stake in U.S. Bancorp $USB

Key Points

• Bank Julius Baer trimmed its U.S. Bancorp stake by 2.2% in the fourth quarter, selling 30,382 shares and leaving it with 1.34 million shares valued at about $72.1 million.
• Several other institutional investors made small moves in USB, while hedge funds and other institutions still own 77.6% of the company. Insider selling was also notable, including EVP Venkatachari Dilip’s sale of 34,522 shares and Jodi L. Richard’s sale of 40,000 shares.
• U.S. Bancorp reported quarterly earnings that beat estimates, with EPS of $1.18 on revenue of $7.32 billion, and it continues to pay a $0.52 quarterly dividend yielding about 3.9%. Analysts currently view the stock as a Moderate Buy with an average price target of $61.20.

Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,341,118 shares of the financial services provider's stock after selling 30,382 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.09% of U.S. Bancorp worth $72,063,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $25,000. Guerra Advisors Inc purchased a new stake in U.S. Bancorp during the 3rd quarter valued at about $25,000. Financial Life Planners bought a new position in U.S. Bancorp during the 3rd quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp in the 3rd quarter worth approximately $28,000. Finally, Westfuller Advisors LLC lifted its position in U.S. Bancorp by 54.7% in the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

USB has been the subject of a number of analyst reports. Jefferies Financial Group reissued a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. DA Davidson reiterated a "buy" rating and set a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. Oppenheimer raised their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating on the stock in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Trading Down 3.3%

Shares of USB opened at $52.70 on Thursday. U.S. Bancorp has a 1-year low of $42.21 and a 1-year high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm's 50-day moving average price is $53.95 and its 200-day moving average price is $53.36. The firm has a market capitalization of $81.81 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.98 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 43.61%.

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.

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