VIRGINIA RETIREMENT SYSTEMS ET Al Raises Stock Holdings in U.S. Bancorp $USB

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

Other hedge funds have also modified their holdings of the company. Chemung Canal Trust Co. raised its stake in shares of U.S. Bancorp by 205.5% during the 3rd quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 45,963 shares during the last quarter. Andra AP fonden grew its holdings in U.S. Bancorp by 175.6% during the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after acquiring an additional 292,100 shares during the period. Cardinal Capital Management Inc. raised its position in U.S. Bancorp by 698.5% during the third quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock valued at $11,749,000 after acquiring an additional 212,655 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in U.S. Bancorp by 6.6% in the third quarter. DAVENPORT & Co LLC now owns 214,901 shares of the financial services provider’s stock valued at $10,386,000 after acquiring an additional 13,280 shares during the period. Finally, Natixis boosted its position in U.S. Bancorp by 86.1% in the 2nd quarter. Natixis now owns 931,398 shares of the financial services provider’s stock worth $42,146,000 after purchasing an additional 431,041 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 17th. TD Cowen raised their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Evercore ISI upped their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Truist Financial lifted their price target on U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.95.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.8%

Shares of U.S. Bancorp stock opened at $53.35 on Friday. The firm has a market capitalization of $82.93 billion, a PE ratio of 12.21, a P/E/G ratio of 1.01 and a beta of 1.07. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $55.15. The firm’s 50-day moving average price is $50.12 and its 200 day moving average price is $48.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

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.