Investment Management of Virginia LLC Acquires 585 Shares of U.S. Bancorp (NYSE:USB)

Investment Management of Virginia LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 1.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 41,494 shares of the financial services provider’s stock after purchasing an additional 585 shares during the quarter. Investment Management of Virginia LLC’s holdings in U.S. Bancorp were worth $2,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Daily Journal Corp raised its position in U.S. Bancorp by 9,900.0% in the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after purchasing an additional 13,860,000 shares during the last quarter. Nuveen Asset Management LLC raised its position in U.S. Bancorp by 17,492.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock valued at $667,286,000 after purchasing an additional 12,662,079 shares during the last quarter. APG Asset Management N.V. raised its position in U.S. Bancorp by 115.2% in the 2nd quarter. APG Asset Management N.V. now owns 3,824,226 shares of the financial services provider’s stock valued at $175,965,000 after purchasing an additional 2,046,900 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of U.S. Bancorp by 140.8% during the second quarter. Acadian Asset Management LLC now owns 2,005,750 shares of the financial services provider’s stock worth $105,104,000 after acquiring an additional 1,172,955 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of U.S. Bancorp by 40.2% during the second quarter. CIBC Private Wealth Group LLC now owns 3,974,817 shares of the financial services provider’s stock worth $208,279,000 after acquiring an additional 1,140,289 shares during the last quarter. Hedge funds and other institutional investors own 75.50% of the company’s stock.

In related news, insider Gillern Jeffry H. Von sold 5,357 shares of U.S. Bancorp stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total transaction of $303,581.19. Following the completion of the sale, the insider now directly owns 89,301 shares of the company’s stock, valued at $5,060,687.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Omaley sold 10,133 shares of U.S. Bancorp stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.76, for a total value of $565,016.08. Following the sale, the director now directly owns 191,754 shares of the company’s stock, valued at $10,692,203.04. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Shares of U.S. Bancorp stock traded down $0.25 during trading on Monday, reaching $58.65. 102,532 shares of the company were exchanged, compared to its average volume of 5,770,772. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $59.71. The business has a 50-day moving average price of $55.56 and a 200-day moving average price of $53.63. The firm has a market capitalization of $92.33 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 2.25 and a beta of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 4.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, September 27th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. U.S. Bancorp’s payout ratio is 40.98%.

A number of equities research analysts have recently weighed in on USB shares. Piper Jaffray Companies set a $59.00 target price on U.S. Bancorp and gave the stock a “buy” rating in a research report on Friday, September 13th. Wedbush boosted their target price on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Credit Suisse Group restated a “hold” rating and set a $55.00 target price on shares of U.S. Bancorp in a research report on Thursday, September 12th. Morgan Stanley boosted their target price on U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Finally, Deutsche Bank set a $59.00 target price on U.S. Bancorp and gave the stock a “hold” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $56.67.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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