Miller Howard Investments Inc. NY Grows Stock Holdings in U.S. Bancorp $USB

Key Points

• Miller Howard Investments Inc. NY increased its stake in U.S. Bancorp by 25.8% in Q2, acquiring an additional 166,378 shares and bringing its total ownership to 812,165 shares valued at approximately $36.75 million.
• U.S. Bancorp recently announced an increase in its quarterly dividend from $0.50 to $0.52, with a yield of 4.1%, to be paid on October 15th to shareholders of record by September 30th.
• Wall Street analysts are optimistic about U.S. Bancorp, with several brokerages raising their target prices, leading to a consensus rating of "Moderate Buy" and a target price of approximately $52.88.

Miller Howard Investments Inc. NY boosted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 812,165 shares of the financial services provider's stock after purchasing an additional 166,378 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.05% of U.S. Bancorp worth $36,750,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wesbanco Bank Inc. lifted its holdings in shares of U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after acquiring an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after buying an additional 649 shares during the last quarter. Ally Financial Inc. raised its holdings in U.S. Bancorp by 12.3% during the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider's stock valued at $3,842,000 after buying an additional 10,000 shares during the last quarter. United Community Bank raised its holdings in U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after buying an additional 8,796 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider's stock valued at $35,478,000 after buying an additional 799,368 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on USB. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Evercore ISI lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Oppenheimer upped their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group lifted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $52.88.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.26 on Tuesday, reaching $49.75. The stock had a trading volume of 1,947,230 shares, compared to its average volume of 10,495,566. The firm has a fifty day moving average of $47.11 and a two-hundred day moving average of $44.16. The company has a market cap of $77.42 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. U.S. Bancorp's revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is 47.85%.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Company 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.