University of Texas Texas AM Investment Management Co. Invests $92,000 in U.S. Bancorp (NYSE:USB)

University of Texas Texas AM Investment Management Co. bought a new position in U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,311 shares of the financial services provider’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $30,000. Eagle Bay Advisors LLC boosted its stake in shares of U.S. Bancorp by 93.2% in 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. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. DA Davidson lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Jefferies Financial Group lowered their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, UBS Group boosted 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. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.34.

U.S. Bancorp Trading Down 2.8 %

U.S. Bancorp stock opened at $44.46 on Wednesday. The stock has a market cap of $69.38 billion, a P/E ratio of 14.72, a PEG ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The firm’s fifty day moving average price is $44.52 and its 200-day moving average price is $42.42. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a stock 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 purchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

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

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.