Aigen Investment Management LP Grows Position in U.S. Bancorp (NYSE:USB)

Key Points

• Aigen Investment Management LP significantly increased its stake in U.S. Bancorp by 1,262.5% during the first quarter, owning 172,065 shares valued at approximately $7.27 million.
• U.S. Bancorp recently reported a quarterly earnings per share (EPS) of $1.11, exceeding analysts' estimates of $1.07, along with a net margin of 16.30%.
• The company declared a quarterly dividend of $0.50, resulting in an annualized dividend of $2.00 and a yield of 4.5%.

Aigen Investment Management LP boosted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 1,262.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,065 shares of the financial services provider's stock after buying an additional 159,436 shares during the period. U.S. Bancorp accounts for approximately 1.2% of Aigen Investment Management LP's investment portfolio, making the stock its largest holding. Aigen Investment Management LP's holdings in U.S. Bancorp were worth $7,265,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp during the first quarter valued at $27,000. YANKCOM Partnership increased its holdings in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp during the first quarter valued at $30,000. REAP Financial Group LLC increased its holdings in shares of U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC boosted its stake in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock valued at $31,000 after buying an additional 420 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.85 during trading on Wednesday, reaching $46.62. The company had a trading volume of 10,438,108 shares, compared to its average volume of 10,727,032. The firm's 50 day simple moving average is $45.32 and its two-hundred day simple moving average is $43.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a market capitalization of $72.54 billion, a PE ratio of 11.15, a PEG ratio of 1.40 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is currently 47.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on USB. The Goldman Sachs Group raised their target price on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods dropped their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company decreased their price objective on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Cowen began coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.