Miracle Mile Advisors LLC Sells 406 Shares of U.S. Bancorp (NYSE:USB)

Miracle Mile Advisors LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 5.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,532 shares of the financial services provider’s stock after selling 406 shares during the period. Miracle Mile Advisors LLC’s holdings in U.S. Bancorp were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vestor Capital LLC increased its stake in U.S. Bancorp by 1.5% in the fourth quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 253 shares during the period. Mosaic Family Wealth Partners LLC increased its stake in U.S. Bancorp by 1.4% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock worth $832,000 after buying an additional 265 shares during the period. Wealth Alliance increased its stake in U.S. Bancorp by 0.5% in the 4th quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock worth $2,131,000 after buying an additional 266 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in U.S. Bancorp by 8.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $163,000 after buying an additional 285 shares in the last quarter. Finally, United Community Bank boosted its position in U.S. Bancorp by 0.7% in the 4th quarter. United Community Bank now owns 40,371 shares of the financial services provider’s stock valued at $1,747,000 after buying an additional 289 shares during the period. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on USB. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of U.S. Bancorp in a research note on Thursday, May 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 21st. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Finally, Jefferies Financial Group upped their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Sixteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Trading Down 1.2 %

U.S. Bancorp stock opened at $39.24 on Tuesday. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.85. The stock has a market cap of $61.23 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a 50-day moving average of $40.35 and a two-hundred day moving average of $41.70.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. On average, research analysts anticipate that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.99%. U.S. Bancorp’s payout ratio is currently 64.90%.

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.