Banque Pictet & Cie 13F: New $5.7M Stake in U.S. Bancorp (USB)

Banque Pictet & Cie has initiated a new position in U.S. Bancorp (NYSE: USB), acquiring 97,918 shares valued at approximately $5,655,744, as disclosed in a filing on October 16, 2026. This new stake indicates the fund's confidence in the financial services company, which operates in various banking sectors.

What Changed in Banque Pictet's U.S. Bancorp Position

Banque Pictet now holds 97,918 shares of U.S. Bancorp, marking a new buy for the fund. This position reflects a strategic entry into the company, which may not represent the fund's current holdings as the filing captures investments as of the reporting period.

Other Institutional Activity in U.S. Bancorp

Several other institutional investors continue to hold significant shares in U.S. Bancorp. For instance, Blackrock Inc. holds 127,137,222 shares valued at about $7.47 billion after a reduction of 1,232,348 shares. Vanguard Capital Management LLC has 101,302,511 shares valued at $5.95 billion, having added 413,644 shares. State Street Corporation increased its stake by 3,727,317 shares to a total of 73,137,322 shares valued at approximately $4.30 billion.

U.S. Bancorp Stock Up 2.1%

As of October 16, U.S. Bancorp traded recently at $58.59, which is below its 50-day moving average of $60.93 by about 3.8% but above its 200-day average of $57.78 by 1.4%. The stock is also about 11.3% below its 52-week high of $66.08 but remains 30.1% above its 52-week low of $45.02. The current mean price target among analysts is $68.45, suggesting possible upside.

Recent Earnings

In the trailing twelve months, U.S. Bancorp reported total revenue of approximately $27.89 billion and earnings per share of $5.14. The company's net margin stands at 30.0%, showcasing its profitability. The next earnings report is scheduled for January 19, 2027.

Insider Buying and Selling at U.S. Bancorp

Recent insider selling has been observed at U.S. Bancorp. Chief Technology Officer Venkatachari Dilip sold 34,522 shares at an average price of $55.52 on May 5, 2026, totaling about $1.92 million. Officer Stephen L. Philipson sold 36,906 shares at $63.08 on July 20, 2026, valued at approximately $2.33 million. Other notable sales include General Counsel James L Chosy, who sold 22,968 shares at $63.28 on July 23, and CEO Gunjan Kedia, who sold 27,267 shares at $62.37 on August 28. These transactions occurred before the recent filing.

Analysts Set New Price Targets

On October 16, 2026, multiple analysts reiterated their ratings for U.S. Bancorp. Citigroup maintained a Buy rating with a target of $70.00, while DA Davidson also kept its Buy rating, setting the target at $73.00. Oppenheimer maintained an Outperform rating with a price target of $73.00. RBC Capital and Evercore ISI Group both maintained Outperform ratings, setting targets of $65.00 and $67.00, respectively.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company headquartered in Minneapolis, MN. The company provides a wide range of financial services, including commercial and consumer banking, wealth management, and payment services. Its operations span various segments, enabling it to serve individuals, businesses, and government entities across the United States.

Bottom Line

Investors should keep an eye on U.S. Bancorp's upcoming earnings report on January 19, 2027. The recent filing by Banque Pictet & Cie reflects holdings as of the reporting period and may not indicate current positions. The outlook from analysts remains positive, with multiple firms maintaining Buy ratings and setting a mean price target that suggests growth potential. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.