Vinva Investment Management Ltd Has $2.13 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Vinva Investment Management Ltd increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 80.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,760 shares of the financial services provider’s stock after purchasing an additional 20,871 shares during the period. Vinva Investment Management Ltd’s holdings in U.S. Bancorp were worth $2,127,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC boosted its stake in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the second quarter worth $30,000. LRI Investments LLC acquired a new stake in U.S. Bancorp in the first quarter worth $31,000. Finally, Y.D. More Investments Ltd bought a new stake in U.S. Bancorp in the second quarter valued at $33,000. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

USB has been the topic of a number of research analyst reports. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Barclays raised their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Finally, Stephens upped their price objective 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. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.02.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction 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 directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $53.29 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $83.13 billion, a PE ratio of 16.30, a PEG ratio of 3.15 and a beta of 1.02. The stock’s 50 day moving average price is $48.44 and its 200-day moving average price is $44.44. U.S. Bancorp has a twelve month low of $37.67 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.75%. U.S. Bancorp’s payout ratio is currently 61.16%.

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 repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.