Aigen Investment Management LP Has $777,000 Stock Position in U.S. Bancorp (NYSE:USB)

Aigen Investment Management LP cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 67.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC increased its stake in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider's stock valued at $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $33,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider now owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research reports. Citigroup raised their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, July 18th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Barclays raised their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price target on U.S. Bancorp from $52.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, DA Davidson raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $51.12.

U.S. Bancorp Stock Up 0.8 %

Shares of NYSE USB traded up $0.41 during mid-day trading on Wednesday, reaching $51.17. 7,128,929 shares of the company's stock were exchanged, compared to its average volume of 8,340,493. The firm has a market capitalization of $79.83 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $46.69 and a 200 day simple moving average of $43.53. U.S. Bancorp has a twelve month low of $35.02 and a twelve month high of $51.76.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp's revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio (DPR) is currently 61.16%.

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.