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

Vinva Investment Management Ltd grew its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 80.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,760 shares of the financial services provider's stock after buying an additional 20,871 shares during the period. Vinva Investment Management Ltd's holdings in U.S. Bancorp were worth $2,127,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC boosted its holdings in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock valued at $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider's stock valued at $2,164,350,000 after buying an additional 1,796,336 shares in the last quarter. Davis Selected Advisers boosted its holdings in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider's stock valued at $564,869,000 after buying an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider's stock worth $528,523,000 after purchasing an additional 94,841 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider's stock worth $491,364,000 after purchasing an additional 325,374 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on USB shares. Wells Fargo & Company lifted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley raised U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Evercore ISI lifted their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. Finally, Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $52.02.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded down $0.19 during mid-day trading on Friday, reaching $53.29. 3,287,928 shares of the company traded hands, compared to its average volume of 8,310,612. The company's 50 day moving average price is $48.44 and its 200-day moving average price is $44.44. The firm has a market cap of $83.13 billion, a PE ratio of 16.30, a PEG ratio of 3.15 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 52 week low of $37.67 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) 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 company 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 firm's revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. On average, equities analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.75%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp's dividend payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

U.S. Bancorp Company 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.