Lombard Odier Asset Management Switzerland SA Has $4.57 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Lombard Odier Asset Management Switzerland SA boosted its U.S. Bancorp stake by 247% in the fourth quarter, ending with 85,695 shares valued at about $4.57 million.
• U.S. Bancorp reported better-than-expected quarterly results, with EPS of $1.18 versus estimates of $1.14 and revenue of $7.32 billion, up 4.7% year over year.
• The bank also announced a quarterly dividend of $0.52 per share, implying an annualized yield of 3.5%, while analysts currently rate the stock Moderate Buy with an average target price of $61.29.

Lombard Odier Asset Management Switzerland SA lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 247.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,695 shares of the financial services provider's stock after purchasing an additional 61,000 shares during the period. Lombard Odier Asset Management Switzerland SA's holdings in U.S. Bancorp were worth $4,573,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clark Capital Management Group Inc. increased its holdings in shares of U.S. Bancorp by 7.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 11,987 shares of the financial services provider's stock valued at $640,000 after purchasing an additional 835 shares during the last quarter. Crawford Investment Counsel Inc. increased its holdings in shares of U.S. Bancorp by 4.4% in the fourth quarter. Crawford Investment Counsel Inc. now owns 6,310 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 267 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at $66,000. Captrust Financial Advisors increased its holdings in shares of U.S. Bancorp by 8.2% in the fourth quarter. Captrust Financial Advisors now owns 302,492 shares of the financial services provider's stock valued at $16,141,000 after purchasing an additional 22,966 shares during the last quarter. Finally, &PARTNERS boosted its holdings in shares of U.S. Bancorp by 1.0% during the 4th quarter. &PARTNERS now owns 189,210 shares of the financial services provider's stock worth $10,094,000 after buying an additional 1,913 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

NYSE USB opened at $58.87 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $91.32 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.04 and a beta of 0.97. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The firm has a 50-day moving average price of $55.46 and a two-hundred day moving average price of $54.71.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp's dividend payout ratio is presently 43.61%.

Wall Street Analyst Weigh In

USB has been the subject of several research analyst reports. Barclays lifted their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Oppenheimer lifted their target price 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. Stephens initiated coverage on shares of U.S. Bancorp in a report on Monday. They set an "equal weight" rating and a $63.00 target price for the company. DA Davidson reaffirmed a "buy" rating and set a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. Finally, Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.29.

Insiders Place Their Bets

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

U.S. Bancorp 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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