U.S. Bancorp $USB Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 964,084 shares of the financial services provider’s stock after selling 8,769 shares during the period. U.S. Bancorp accounts for approximately 1.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 29th biggest position. Miller Howard Investments Inc. NY owned approximately 0.06% of U.S. Bancorp worth $55,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Financial Life Planners bought a new position in shares of U.S. Bancorp during the first quarter worth about $27,000. Main Street Group LTD acquired a new position in shares of U.S. Bancorp in the first quarter worth approximately $28,000. Archer Investment Corp acquired a new position in shares of U.S. Bancorp in the second quarter worth approximately $29,000. Parvin Asset Management LLC acquired a new position in shares of U.S. Bancorp in the second quarter worth approximately $30,000. Finally, NFSG Corp bought a new stake in U.S. Bancorp in the first quarter valued at approximately $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $59.70 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $60.29 and its 200-day moving average is $57.91. The stock has a market capitalization of $93.01 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the previous year, the company posted $1.22 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. U.S. Bancorp’s payout ratio is 42.11%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. DA Davidson reissued a “buy” rating and set a $73.00 target price on shares of U.S. Bancorp in a research report on Friday, October 16th. Royal Bank Of Canada dropped their price target on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday, July 20th. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of U.S. Bancorp from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.19.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.