VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in U.S. Bancorp $USB

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, Holdings Channel reports. The firm acquired 711,350 shares of the financial services provider’s stock, valued at approximately $42,966,000.

Other institutional investors also recently made changes to their positions in the company. Dogwood Wealth Management LLC lifted its holdings in shares of U.S. Bancorp by 32.9% during the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 170 shares during the period. Blalock Williams LLC grew its position in U.S. Bancorp by 3.8% during the 2nd quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 171 shares during the last quarter. Paulson Wealth Management Inc. increased its holdings in U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares in the last quarter. Flputnam Investment Management Co. raised its position in U.S. Bancorp by 1.4% in the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 186 shares during the last quarter. Finally, Formidable Asset Management LLC raised its position in U.S. Bancorp by 0.8% in the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Robert W. Baird increased their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $60.00 to $75.00 in a report on Monday, July 6th. Stephens upped their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $63.36 on Monday. The company has a market cap of $98.72 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $63.07 and a 200-day moving average of $57.87.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the company earned $1.11 EPS. On average, equities analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

U.S. Bancorp 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.