University of Texas Texas AM Investment Management Co. Buys Shares of 2,311 U.S. Bancorp (NYSE:USB)

University of Texas Texas AM Investment Management Co. purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,311 shares of the financial services provider’s stock, valued at approximately $92,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp during the first quarter worth $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp in the second quarter worth $30,000. Eagle Bay Advisors LLC grew 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 worth $31,000 after purchasing an additional 331 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in U.S. Bancorp in the first quarter valued at $31,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group upped their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. The Goldman Sachs Group reduced their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group decreased their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $48.34.

U.S. Bancorp Stock Performance

Shares of USB opened at $44.46 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a 50-day moving average of $44.52 and a 200-day moving average of $42.42. The company has a market cap of $69.38 billion, a PE ratio of 14.72, a P/E/G ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. On average, equities research analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.50%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp declared that its board has initiated a share repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.

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.