Bank Pictet & Cie Europe AG Purchases New Shares in U.S. Bancorp $USB

Key Points

• Bank Pictet & Cie Europe AG acquired 40,112 shares of U.S. Bancorp, valued at approximately $1.8 million, in the 2nd quarter of the year.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, exceeding analysts' expectations and marking a 2.0% revenue increase compared to the previous year.
• The company has boosted its quarterly dividend from $0.50 to $0.52, representing a yield of 4.2% with an ex-dividend date set for September 30th.

Bank Pictet & Cie Europe AG acquired a new position in U.S. Bancorp (NYSE:USB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 40,112 shares of the financial services provider's stock, valued at approximately $1,815,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Saudi Central Bank acquired a new stake in U.S. Bancorp during the first quarter worth approximately $26,000. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $27,000. YANKCOM Partnership grew its holdings in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the first quarter worth $30,000. Finally, Rakuten Securities Inc. raised its stake in U.S. Bancorp by 1,212.1% in the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 703 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Trading Down 0.4%

NYSE USB opened at $49.00 on Friday. The company has a market cap of $76.25 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The business's fifty day moving average is $47.33 and its 200 day moving average is $44.28.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.52 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. U.S. Bancorp's dividend payout ratio (DPR) is 47.85%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on USB. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. The Goldman Sachs Group increased their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. DA Davidson lifted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.83.

U.S. Bancorp Profile

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.

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