VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in U.S. Bancorp $USB

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 711,350 shares of the financial services provider’s stock, valued at approximately $42,966,000.

Several other institutional investors also recently modified their holdings of the stock. Financial Life Planners acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $27,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter valued at about $28,000. Main Street Group LTD bought a new position in U.S. Bancorp during the first quarter valued at about $28,000. Archer Investment Corp acquired a new stake in shares of U.S. Bancorp in the second quarter worth about $29,000. Finally, Binnacle Investments Inc lifted its position in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after buying an additional 273 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on USB shares. Citigroup restated a “buy” rating on shares of U.S. Bancorp in a report on Tuesday, July 21st. UBS Group lifted their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of U.S. Bancorp in a research report on Monday, August 24th. Finally, DA Davidson lifted their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

U.S. Bancorp Price Performance

USB opened at $63.36 on Monday. The company has a fifty day moving average price of $63.07 and a two-hundred day moving average price of $57.87. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The firm has a market capitalization of $98.72 billion, a PE ratio of 12.65, a P/E/G ratio of 1.13 and a beta of 0.95.

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

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Insider Transactions at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction 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 approximately $4,729,044.52. This represents a 32.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

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.