Miller Howard Investments Inc. NY Purchases New Position in U.S. Bancorp (NYSE:USB)

Miller Howard Investments Inc. NY acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 776,444 shares of the financial services provider’s stock, valued at approximately $37,137,000.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. AMF Tjanstepension AB raised its position in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock valued at $24,401,000 after buying an additional 76,914 shares during the last quarter. Fermata Advisors LLC purchased a new position in U.S. Bancorp during the third quarter worth about $229,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in U.S. Bancorp by 352.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,809 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 9,201 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in U.S. Bancorp by 6.5% in the 3rd quarter. Fiduciary Financial Group LLC now owns 9,245 shares of the financial services provider’s stock valued at $409,000 after buying an additional 566 shares during the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $204,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insiders Place Their Bets

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Trading Down 1.1 %

Shares of USB opened at $47.22 on Friday. The business’s 50-day moving average price is $49.09 and its 200-day moving average price is $47.44. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The stock has a market cap of $73.66 billion, a PE ratio of 12.46, a P/E/G ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.24%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

U.S. Bancorp Profile

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.