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

Aigen Investment Management LP lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 67.8% in the third quarter, Holdings Channel reports. The institutional investor owned 16,990 shares of the financial services provider’s stock after selling 35,786 shares during the quarter. 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 large investors have also recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC raised its stake in shares of U.S. Bancorp by 35.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 3,491 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in U.S. Bancorp by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,461,427 shares of the financial services provider’s stock valued at $158,291,000 after buying an additional 63,230 shares in the last quarter. WealthPLAN Partners LLC lifted its holdings in U.S. Bancorp by 3.9% during the 3rd quarter. WealthPLAN Partners LLC now owns 12,276 shares of the financial services provider’s stock worth $561,000 after buying an additional 463 shares during the last quarter. FDx Advisors Inc. increased its holdings in shares of U.S. Bancorp by 10.0% in the 3rd quarter. FDx Advisors Inc. now owns 7,864 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 715 shares during the last quarter. Finally, Northwest Wealth Management LLC raised its position in shares of U.S. Bancorp by 62.3% during the 3rd quarter. Northwest Wealth Management LLC now owns 14,083 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 5,404 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on USB shares. Stephens increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, DA Davidson lifted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.12.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $50.80 on Wednesday. The company has a market capitalization of $79.25 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $46.60 and a 200-day moving average of $43.46. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the company posted $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

U.S. Bancorp announced that its board has initiated a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Company 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.