VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Position in U.S. Bancorp $USB

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in U.S. Bancorp (NYSE:USB) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,700 shares of the financial services provider’s stock after buying an additional 10,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in U.S. Bancorp were worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Hillsdale Investment Management Inc. bought a new stake in U.S. Bancorp during the 2nd quarter valued at $27,000. Pineridge Advisors LLC lifted its holdings in shares of U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares during the period. Activest Wealth Management grew its position in shares of U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after buying an additional 728 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp during the second quarter valued at $38,000. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Trading Down 1.8%

NYSE:USB opened at $53.35 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $55.15. The firm has a 50 day moving average of $50.12 and a 200 day moving average of $48.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $82.93 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.01 and a beta of 1.07.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Analyst Ratings Changes

A number of analysts recently weighed in on USB shares. TD Cowen upped their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. DA Davidson increased their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 17th. UBS Group boosted their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Finally, Bank of America increased their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $54.95.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.