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

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,341,316 shares of the financial services provider’s stock after selling 247,882 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.09% of U.S. Bancorp worth $60,695,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of USB. Davis Selected Advisers raised its position in U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares during the period. Nuveen LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. American Century Companies Inc. raised its holdings in shares of U.S. Bancorp by 17.4% in the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after purchasing an additional 1,493,318 shares during the period. Finally, Nordea Investment Management AB lifted its stake in U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after purchasing an additional 1,311,746 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Down 0.7%

Shares of NYSE USB opened at $46.50 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a market cap of $72.27 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The business has a 50-day simple moving average of $47.59 and a two-hundred day simple moving average of $46.21.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is 47.60%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. TD Cowen lifted their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Citigroup increased their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $54.45.

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.