Miracle Mile Advisors LLC Purchases 7,633 Shares of U.S. Bancorp (NYSE:USB)

Miracle Mile Advisors LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 96.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,531 shares of the financial services provider's stock after buying an additional 7,633 shares during the quarter. Miracle Mile Advisors LLC's holdings in U.S. Bancorp were worth $743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Global Wealth Strategies & Associates boosted its holdings in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider's stock worth $29,000 after buying an additional 250 shares during the last quarter. Frazier Financial Advisors LLC raised its position in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 441 shares during the period. Legacy Investment Solutions LLC bought a new position in U.S. Bancorp during the 3rd quarter worth approximately $40,000. Northwest Bank & Trust Co grew its holdings in U.S. Bancorp by 87.4% during the third quarter. Northwest Bank & Trust Co now owns 937 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 437 shares during the period. Finally, Paladin Wealth LLC bought a new stake in U.S. Bancorp in the third quarter valued at approximately $44,000. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction 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. The trade was a 16.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

USB stock traded down $2.83 during trading hours on Thursday, reaching $48.07. The stock had a trading volume of 19,042,066 shares, compared to its average volume of 9,130,256. The stock has a 50-day simple moving average of $50.25 and a 200 day simple moving average of $46.71. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock has a market capitalization of $74.98 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. Analysts predict that U.S. Bancorp will post 3.91 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. U.S. Bancorp's dividend payout ratio is currently 61.16%.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Evercore ISI boosted their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Piper Sandler upgraded shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price target for the company in a report on Monday. Truist Financial started coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a "hold" rating and a $54.00 price objective for the company. Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, DA Davidson raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and upped their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $54.07.

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.