Miller Howard Investments Inc. NY Invests $37.14 Million in U.S. Bancorp (NYSE:USB)

Miller Howard Investments Inc. NY bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 776,444 shares of the financial services provider's stock, valued at approximately $37,137,000.

Other hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC raised its holdings in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider's stock valued at $18,348,000 after acquiring an additional 56,990 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $1,018,000. M&T Bank Corp increased its holdings in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider's stock valued at $38,704,000 after buying an additional 22,803 shares during the period. Hilltop Holdings Inc. lifted its stake in U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider's stock worth $3,214,000 after purchasing an additional 45,560 shares during the last quarter. Finally, Keystone Financial Planning Inc. boosted its stake in U.S. Bancorp by 29.5% in the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider's stock valued at $3,473,000 after buying an additional 16,552 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last three months. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 0.1 %

U.S. Bancorp stock traded down $0.07 during mid-day trading on Wednesday, reaching $47.52. The stock had a trading volume of 6,180,126 shares, compared to its average volume of 9,531,829. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock's 50-day simple moving average is $48.88 and its 200-day simple moving average is $47.50. The firm has a market capitalization of $74.13 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate 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 was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.21%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp's dividend payout ratio (DPR) is currently 52.77%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on USB. Raymond James upgraded shares of 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 report on Thursday, December 19th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $54.00 target price for the company. Morgan Stanley cut their price target on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Barclays boosted their target price 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. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $54.21.

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.