Miller Howard Investments Inc. NY Sells 8,769 Shares of U.S. Bancorp $USB

Miller Howard Investments Inc. NY lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 964,084 shares of the financial services provider’s stock after selling 8,769 shares during the period. U.S. Bancorp makes up approximately 1.5% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 29th biggest holding. Miller Howard Investments Inc. NY’s holdings in U.S. Bancorp were worth $55,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after buying an additional 93,025 shares during the last quarter. Mufg Bank LTD. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Illinois Municipal Retirement Fund boosted its stake in shares of U.S. Bancorp by 57.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider’s stock worth $4,798,000 after buying an additional 33,517 shares during the last quarter. Cardinal Capital Management Inc. boosted its stake in shares of U.S. Bancorp by 5.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 326,565 shares of the financial services provider’s stock worth $19,725,000 after buying an additional 16,814 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after acquiring an additional 1,022,898 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 0.2%

Shares of NYSE USB 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 stock has a market capitalization of $93.01 billion, a PE ratio of 11.61, a P/E/G ratio of 1.14 and a beta of 1.00. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The business’s fifty day moving average price is $60.29 and its 200-day moving average price is $57.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly 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 net margin of 18.85% and a return on equity of 13.85%. The company had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period in the prior year, the company posted $1.22 EPS. U.S. Bancorp’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 5.29 EPS for the current year.

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’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 approximately $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on USB shares. BTIG Research set a $67.50 price target on U.S. Bancorp in a research report on Monday, July 20th. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Monday, July 20th. HSBC boosted their price objective on U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of U.S. Bancorp in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.19.

U.S. Bancorp Profile

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.