Miller Howard Investments Inc. NY Sells 130,657 Shares of U.S. Bancorp (NYSE:USB)

Miller Howard Investments Inc. NY lessened its stake in U.S. Bancorp (NYSE:USB) by 16.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 645,787 shares of the financial services provider’s stock after selling 130,657 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in U.S. Bancorp were worth $27,265,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in USB. Kanawha Capital Management LLC raised its holdings in shares of U.S. Bancorp by 0.6% in the first quarter. Kanawha Capital Management LLC now owns 223,846 shares of the financial services provider’s stock valued at $9,451,000 after purchasing an additional 1,302 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in U.S. Bancorp by 3.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 8,190 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 262 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE raised its holdings in U.S. Bancorp by 4.4% in the 1st quarter. Lawson Kroeker Investment Management Inc. NE now owns 45,860 shares of the financial services provider’s stock valued at $1,936,000 after acquiring an additional 1,939 shares during the period. Arbor Capital Management Inc. ADV increased its stake in shares of U.S. Bancorp by 5.4% during the first quarter. Arbor Capital Management Inc. ADV now owns 33,781 shares of the financial services provider’s stock worth $1,434,000 after purchasing an additional 1,718 shares during the period. Finally, Keybank National Association OH increased its position in U.S. Bancorp by 2.0% during the 1st quarter. Keybank National Association OH now owns 73,657 shares of the financial services provider’s stock worth $3,110,000 after buying an additional 1,436 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $46.64 on Wednesday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $43.23 and a 200-day moving average price of $44.43. The company has a market cap of $72.67 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same quarter in the prior year, the company posted $0.78 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s payout ratio is 49.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. Bank of America decreased their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Royal Bank Of Canada lowered their target price on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Barclays lowered their target price on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.72.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director directly owned 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.