Vinva Investment Management Ltd Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Vinva Investment Management Ltd grew its stake in shares of U.S. Bancorp (NYSE:USB) by 80.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,760 shares of the financial services provider’s stock after acquiring 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 reporting period.

Other large investors have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the 2nd quarter worth about $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares in the last quarter. LRI Investments LLC bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $31,000. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp during the second quarter valued at approximately $30,000. Finally, Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $33,000. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’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 completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $53.29 on Friday. The stock has a market capitalization of $83.13 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 3.15 and a beta of 1.02. U.S. Bancorp has a one year low of $37.67 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $48.44 and its two-hundred day simple moving average is $44.44.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its board has approved a stock buyback 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Finally, Barclays increased their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $52.02.

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.