U.S. Bancorp (NYSE:USB) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 67.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,990 shares of the financial services provider’s stock after selling 35,786 shares during the period. Aigen Investment Management LP’s holdings in U.S. Bancorp were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $25,000. LRI Investments LLC purchased a new position in U.S. Bancorp in the 1st quarter valued at $31,000. Eagle Bay Advisors LLC raised its position in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $30,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the second quarter worth about $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $50.80 on Wednesday. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The firm’s 50 day moving average is $46.60 and its two-hundred day moving average is $43.46. The company has a market cap of $79.25 billion, a P/E ratio of 15.54, a P/E/G ratio of 3.01 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its board has initiated a stock buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.94%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on USB shares. The Goldman Sachs Group dropped their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Barclays boosted their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. UBS Group increased their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $51.12.

About U.S. Bancorp

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.