Miracle Mile Advisors LLC Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Miracle Mile Advisors LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 reporting period.

Other large investors have also recently made changes to their positions in the company. CGC Financial Services LLC bought a new position in U.S. Bancorp in the 4th quarter worth about $25,000. BKM Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth about $26,000. Planned Solutions Inc. purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth about $27,000. Naples Money Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the first quarter worth $30,000. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 14th. Wells Fargo & Company cut their price target on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of U.S. Bancorp in a research report on Thursday, May 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.02.

U.S. Bancorp Stock Performance

Shares of USB opened at $39.24 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market cap of $61.23 billion, a P/E ratio of 12.99, a P/E/G ratio of 3.82 and a beta of 1.04. The business’s 50 day moving average price is $40.35 and its 200-day moving average price is $41.70. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.99%. U.S. Bancorp’s dividend 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.