Virginia Retirement Systems ET AL Increases Stake in U.S. Bancorp (USB)

Virginia Retirement Systems ET AL raised its stake in U.S. Bancorp (NYSE:USB) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,400 shares of the financial services provider’s stock after buying an additional 4,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in U.S. Bancorp were worth $4,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $736,819,000. First Eagle Investment Management LLC increased its position in U.S. Bancorp by 1.3% in the first quarter. First Eagle Investment Management LLC now owns 11,507,504 shares of the financial services provider’s stock valued at $592,636,000 after buying an additional 152,202 shares during the period. Fiera Capital Corp increased its position in U.S. Bancorp by 5.1% in the fourth quarter. Fiera Capital Corp now owns 6,613,022 shares of the financial services provider’s stock valued at $339,711,000 after buying an additional 323,723 shares during the period. UBS Asset Management Americas Inc. increased its position in U.S. Bancorp by 10.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,332,879 shares of the financial services provider’s stock valued at $326,143,000 after buying an additional 592,961 shares during the period. Finally, Ameriprise Financial Inc. increased its position in U.S. Bancorp by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 5,102,074 shares of the financial services provider’s stock valued at $262,842,000 after buying an additional 61,056 shares during the period. 75.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of U.S. Bancorp (NYSE USB) opened at 52.08 on Monday. The company has a 50-day moving average of $51.68 and a 200 day moving average of $52.36. U.S. Bancorp has a 12-month low of $41.12 and a 12-month high of $56.61. The company has a market cap of $87.77 billion, a PE ratio of 15.78 and a beta of 0.86.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.27 billion. U.S. Bancorp had a return on equity of 13.99% and a net margin of 25.86%. U.S. Bancorp’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 EPS. On average, equities research analysts expect that U.S. Bancorp will post $3.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.84%.

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Several research analysts have commented on USB shares. Wells Fargo & Company downgraded shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 price target on shares of U.S. Bancorp in a research note on Tuesday, April 4th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. Finally, Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $51.56.

In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,192 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $740,538.56. Following the transaction, the insider now owns 62,303 shares of the company’s stock, valued at approximately $3,250,970.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Leslie V. Godridge sold 25,746 shares of the company’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $50.62, for a total value of $1,303,262.52. Following the completion of the transaction, the insider now directly owns 73,857 shares in the company, valued at approximately $3,738,641.34. The disclosure for this sale can be found here. Insiders sold a total of 69,387 shares of company stock worth $3,573,382 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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

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