Miracle Mile Advisors LLC Has $743,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Miracle Mile Advisors LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 96.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,531 shares of the financial services provider’s stock after purchasing an additional 7,633 shares during the period. Miracle Mile Advisors LLC’s holdings in U.S. Bancorp were worth $743,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of USB. State Street Corp lifted its holdings in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after acquiring an additional 819,805 shares during the last quarter. FMR LLC lifted its stake in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after buying an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after buying an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after buying an additional 325,374 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

USB has been the topic of several recent research reports. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Thursday, December 19th. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Oppenheimer reduced their target price on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.07.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Up 3.8 %

U.S. Bancorp stock opened at $50.92 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $79.44 billion, a PE ratio of 15.57, a PEG ratio of 3.01 and a beta of 1.05. The firm’s fifty day moving average is $50.25 and its 200 day moving average is $46.68. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 3.93 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. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 3.93%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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.