Miller Howard Investments Inc. NY Sells 130,657 Shares of U.S. Bancorp (NYSE:USB)

Miller Howard Investments Inc. NY trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 16.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 645,787 shares of the financial services provider's stock after selling 130,657 shares during the period. Miller Howard Investments Inc. NY's holdings in U.S. Bancorp were worth $27,265,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in USB. J.Safra Asset Management Corp bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $26,000. Westend Capital Management LLC bought a new stake in U.S. Bancorp during the first quarter worth approximately $27,000. Picton Mahoney Asset Management bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp in the 1st quarter worth approximately $30,000. Finally, Millstone Evans Group LLC acquired a new position in U.S. Bancorp in the 4th quarter worth approximately $31,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on USB shares. Citigroup raised their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Royal Bank Of Canada decreased their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.34.

U.S. Bancorp Stock Up 0.5%

Shares of NYSE:USB traded up $0.24 during trading on Friday, reaching $47.73. 7,036,266 shares of the company traded hands, compared to its average volume of 9,331,398. The firm has a market cap of $74.36 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The firm has a fifty day simple moving average of $43.54 and a 200 day simple moving average of $44.42. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. 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 quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter last year, the firm earned $0.78 EPS. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

About U.S. Bancorp

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.