U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products. It also provides ancillary services comprising capital markets, treasury management, and receivable lock-box collection services to corporate customers; and a range of asset management and fiduciary services for individuals, estates, foundations, business corporations, and charitable organizations. In addition, the company offers investment and insurance products to its customers principally within its markets, as well as fund administration services to a range of mutual and other funds. Further, it provides corporate and purchasing card, and corporate trust services; and merchant processing services, as well as cash and investment management, ATM processing, mortgage banking, and brokerage and leasing services. As of December 31, 2020, the company provided its products and services through a network of 2,434 banking offices principally operating in the Midwest and West regions of the United States, as well as through online services and over mobile devices; and operated a network of 4,232 ATMs. The company was founded in 1863 and is headquartered in Minneapolis, Minnesota.
IPO Year:
Exchange: NYSE
Website: usbank.com
Date | Price Target | Rating | Analyst |
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6/27/2024 | $43.50 | Overweight → Neutral | JP Morgan |
4/18/2024 | $52.00 → $45.00 | Outperform → Mkt Perform | Keefe Bruyette |
3/28/2024 | $47.00 → $53.00 | Hold → Buy | HSBC Securities |
3/22/2024 | $46.00 → $49.00 | Neutral → Buy | Compass Point |
12/20/2023 | Overweight → Equal-Weight | Stephens | |
12/15/2023 | $52.00 | Outperform → Neutral | Robert W. Baird |
12/14/2023 | Hold → Buy | Odeon | |
9/7/2023 | $30.00 | Hold | HSBC Securities |
7/24/2023 | $39.00 → $41.00 | Neutral | DA Davidson |
7/20/2023 | Underperform → Mkt Perform | Raymond James |
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The Board of Directors of U.S. Bancorp (NYSE:USB) has authorized a share repurchase program for up to $5 billion of the company's outstanding common stock beginning September 13, 2024. The company intends to begin repurchasing shares by early 2025. It also declared a regular quarterly dividend of $0.50 per common share, payable October 15, 2024, to stockholders of record at the close of business on September 30, 2024. This is an increase of 2 percent over the prior quarter. At this quarterly dividend rate, the annual dividend is equivalent to $2.00 per common share. U.S. Bancorp will utilize the share repurchase program at its discretion as it continues to monitor the economic environment
Delivers the new online checkout solution to anyone looking to check out with Paze All U.S. Bank clients with eligible credit and debit cards now have access to Paze℠, a new online checkout solution that makes online shopping more convenient. Paze is an easy checkout experience with no manual card entry, no new Paze password to remember* and no need to download third-party applications. U.S. Bank is offering special promotions to cardholders to encourage them to use Paze. The company also offers a variety of options for businesses to easily accept Paze transactions through a seamless integration with Elavon's Converge Payment Gateway for e-commerce. "Paze is a great example of how U.S. B
Bank Smartly products offer up to 4% cash back on card purchases and up to 4.10% APY on savings with qualifying balances of $100,000 or more. U.S. Bank is introducing two new U.S. Bank Smartly® products designed to work together to maximize credit card rewards while also helping clients earn more on their savings balances. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240904863280/en/U.S. Bank is introducing U.S. Bank Smartly™ Visa Signature® Card and U.S. Bank Smartly® Savings, two new U.S. Bank Smartly® products designed to work together to maximize credit card rewards while also helping clients earn more on their savings b
U.S. Bancorp (NYSE:USB) announced today that it will host an Investor Day in New York on Thursday, Sept. 12, 2024. Presentations will be given by U.S. Bancorp Chairman and CEO Andy Cecere and select members of U.S. Bancorp's management team. Attendance in person is by invitation only. Presentations are expected to begin at 8:00 a.m. ET and conclude by 12 p.m. ET. A live video webcast will be available to the public. To access the webcast and presentations, please visit the U.S. Bancorp website at usbank.com and click on "About Us," "Investor Relations" and "Webcasts & Presentations." The webcast replay will be available within 24 hours of the presentation. About U.S. Bancorp U.S. Ba
Small business owners are embracing digital tools and AI/automated solutions to help their businesses run more efficiently. Almost three quarters (73%) of American small business owners say their business has grown in the last year, with even higher percentages for Black (84%) and Hispanic (80%) owners, according to the U.S. Bank 2024 Small Business Perspective that was released today. The report, which is based on a survey of more than 1,000 small business owners, explores the complex challenges and stressors owners are facing in the 2024 macroeconomic environment, including efforts to retain and engage employees and the impact of artificial intelligence (AI) on operations and job securi
Acquisition further expands bank's focus on healthcare industry U.S. Bank, lead bank of U.S. Bancorp (NYSE:USB), has acquired Salucro Healthcare Solutions LLC. The Tempe, Arizona-based company provides healthcare financial technology, focused on patient payments and billing. Founded in 2004, Salucro is a market leader in providing online billing and payments offerings for healthcare providers across the United States. Salucro had previously been a partner of Elavon, the merchant acquiring unit within U.S. Bank. U.S. Bank initially invested in Salucro in 2022, and Salucro's platform is sold through Elavon as MedEpay. "U.S. Bank is a leader in providing banking and payments services to
Search for new Payment Services leadership to begin immediately U.S. Bancorp (NYSE:USB), parent company of U.S. Bank, announced today that Shailesh Kotwal, vice chair of Payment Services, intends to retire from the company in the first half of 2025. "For nearly a decade, Shailesh has been a forward-looking champion of payments and money movement and a leader who has inspired our organization to expand its capabilities in a rapidly evolving area of the industry," said Andy Cecere, U.S. Bancorp chairman and CEO. "He has been an advocate and friend, and we now have the opportunity to wish him well as he moves onto his next milestone: retirement." Kotwal, 60, will remain in his role for s
Edward Jones clients will have access to checking, credit card products powered by U.S. Bank U.S. Bank has entered into a strategic partnership to serve Edward Jones' clients banking needs with leading U.S. Bank deposit and credit card solutions. Through the alliance, Edward Jones financial advisors will have the unique opportunity and tools to introduce co-branded U.S. Bank deposit and credit card products to the firm's U.S. clients beginning in late 2025. The launch will include expanded banking products powered by U.S. Bank that will be made available to Edward Jones U.S. clients through the firm's more than 19,000 financial advisors, serving 8 million clients with $2 trillion client
Consumer and business banking leader joins team of top leaders to drive ongoing growth U.S. Bancorp (NYSE:USB), parent company of U.S. Bank, announced today that Arijit Roy will become the newest member of its Managing Committee, a group of 16 executives with various responsibilities for the organization's revenue lines, enabling functions and independent risk teams. "As an organization, we are fortunate to attract and learn from talented leaders who are shaping the future of our industry," said Andy Cecere, U.S. Bancorp chairman and CEO. "We appreciate the insights and perspectives we glean from those who are new to our company, and we are proud to celebrate when we promote from within
Truck freight shipments increase in West, Northeast and Southeast regions compared to first quarter Truck freight volumes and spending continued to drop in the second quarter, but at a slower pace than recent quarters, according to the latest U.S. Bank Freight Payment Index. Shipments increased in three regions – the West, Northeast and Southeast – on a quarterly basis, the first time multiple regions have experienced increased volume in more than a year. "Our data is showing some signs that the very challenging freight market could be nearing a bottom," said Bobby Holland, director of freight business analytics, U.S. Bank. "There are still headwinds for carriers, but at least in terms
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Southern California Bancorp (the "Company") (OTC:BCAL), the holding company for Bank of Southern California, N.A. (the "Bank"), announces that the Board of Directors has appointed Executive Chairman David I. Rainer to succeed Nathan Rogge as the President and CEO of the Company and the Bank, effective immediately. "The board and I are confident that David's extensive banking experience and success in Southern California banking make him an ideal choice for President and CEO to continue the implementation of the Bank's commercial banking strategy," said John Farkash, Chairman Emeritus of Southern California Bancorp and Bank of Southern California. "On behalf of the board and the entire comp
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In a recent analyst note by Goldman Sachs, the outlook for several regional banks were evaluated based on their recent second-quarter 2024 earnings reports. Among the banks examined included KeyCorp (NYSE:KEY), M&T Bank Corp (NYSE:MTB), Regions Financial Corp (NYSE:RF), Truist Financial Corp (NYSE:TFC), U.S. Bancorp (NYSE:USB) and Zions Bancorporation NA (NASDAQ:ZION). Lead analyst Ryan Nash and team highlighted key metrics, growth projections and credit performances, offering a comprehensive analysis of each bank’s standing and market outlook. KeyCorp KeyCorp’s second-quarter 2024 EPS results were mixed. The bank saw a slight beat on fees and managed lower expenses, which offset a
Wells Fargo analyst Mike Mayo maintains U.S. Bancorp (NYSE:USB) with a Overweight and raises the price target from $48 to $52.
Citigroup analyst Keith Horowitz maintains U.S. Bancorp (NYSE:USB) with a Neutral and raises the price target from $45 to $49.
UBS analyst Erika Najarian maintains U.S. Bancorp (NYSE:USB) with a Neutral and raises the price target from $43 to $46.
Goldman Sachs analyst Richard Ramsden maintains U.S. Bancorp (NYSE:USB) with a Neutral and raises the price target from $42 to $47.
RBC Capital analyst Gerard Cassidy maintains U.S. Bancorp (NYSE:USB) with a Outperform and raises the price target from $47 to $48.
7 analysts have expressed a variety of opinions on U.S. Bancorp (NYSE:USB) over the past quarter, offering a diverse set of opinions from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 2 5 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 4 0 0 2M Ago 0 0 0 0 0 3M Ago 0 2 0 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $45.43, along with a high estimate of $49.00 and a low estimate of $42.00. Marking an increase
DA Davidson analyst Peter Winter maintains U.S. Bancorp (NYSE:USB) with a Neutral and raises the price target from $44 to $49.
It’s deep red on Wall Street on Wednesday, with tech stocks sharply falling amid a semiconductor broad-based selloff following news that the Biden administration is hastening export restrictions to China. Bloomberg reported on Wednesday that the U.S. administration has advised its allies to impose the strictest trade restrictions possible if companies such as Tokyo Electron Ltd. (OTCPK: TOELY) and ASML Holding NV (NASDAQ:ASML) persist in supplying advanced chips to China. Shares of the Dutch chipmaker ASML Holding fell nearly 12%, notching the worst decline since March 2020. The tech-heavy Nasdaq 100 tumbled by 2.7% at 12:45 p.m. ET, marking the worst session since late August 2023.
U.S. stocks were mixed, with the Dow Jones index gaining around 150 points on Wednesday. Shares of U.S. Bancorp (NYSE:USB) shares rose during Wednesday's session following a second-quarter earnings beat. Revenue stood at $6.867 billion (-4.3% Y/Y), beating the consensus of $6.795 billion. Adjusted earnings per share totaled 98 cents, beating the consensus of 94 cents, according to data from Benzinga Pro. U.S. Bancorp shares gained 4.7% to $45.34 on Wednesday. Here are some other big stocks recording gains in today’s session. Aehr Test Systems (NASDAQ:AEHR) shares jumped 16.4% to $19.60 after the company reported better-than-expected Q4 financial results and issued FY25 revenu
The Board of Directors of U.S. Bancorp (NYSE:USB) has authorized a share repurchase program for up to $5 billion of the company's outstanding common stock beginning September 13, 2024. The company intends to begin repurchasing shares by early 2025. It also declared a regular quarterly dividend of $0.50 per common share, payable October 15, 2024, to stockholders of record at the close of business on September 30, 2024. This is an increase of 2 percent over the prior quarter. At this quarterly dividend rate, the annual dividend is equivalent to $2.00 per common share. U.S. Bancorp will utilize the share repurchase program at its discretion as it continues to monitor the economic environment
Acquisition further expands bank's focus on healthcare industry U.S. Bank, lead bank of U.S. Bancorp (NYSE:USB), has acquired Salucro Healthcare Solutions LLC. The Tempe, Arizona-based company provides healthcare financial technology, focused on patient payments and billing. Founded in 2004, Salucro is a market leader in providing online billing and payments offerings for healthcare providers across the United States. Salucro had previously been a partner of Elavon, the merchant acquiring unit within U.S. Bank. U.S. Bank initially invested in Salucro in 2022, and Salucro's platform is sold through Elavon as MedEpay. "U.S. Bank is a leader in providing banking and payments services to
U.S. Bancorp reported its second quarter 2024 results today. The earnings release, earnings supplement and slide presentation can be accessed online at ir.usbank.com/investor-relations/financial-information. At 7 a.m. Central Time, Chairman and Chief Executive Officer Andy Cecere and Senior Executive Vice President and Chief Financial Officer John Stern will host a conference call to review the financial results. The conference call will be available online or by telephone. To access the webcast and presentation, visit U.S. Bancorp's website at usbank.com and click on "About Us," "Investor Relations" and "Webcasts & Presentations." To access the conference call from locations within the U
U.S. Bancorp (NYSE:USB) commented on the results of the Federal Reserve's Dodd-Frank Act Stress Test (DFAST) conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act. Based on its 2024 stress test results, the company expects to be subject to a preliminary stress capital buffer (SCB) of 3.1 percent, for the period beginning October 1, 2024, and ending on September 30, 2025. The Federal Reserve has stated that it expects to finalize the SCB for all firms by August 31, 2024. The SCB, when added to the Basel III Common Equity Tier 1 (CET1) capital to risk-weighted assets ratio minimum of 4.5 percent, requires the company to maintain a CET1 ratio at or above
U.S. Bancorp (NYSE:USB) will release its second quarter 2024 earnings results before the market opens on Wednesday, July 17, 2024. At 7 a.m. CT, Chairman and Chief Executive Officer Andy Cecere and Senior Executive Vice President and Chief Financial Officer John Stern will host a conference call to review the financial results. The live conference call will be available online or by telephone. Via internet: To access the webcast and presentation, visit the U.S. Bancorp website at usbank.com and click on "About Us", "Investor Relations" and "Webcasts & Presentations." Via telephone: To access the conference call from locations within the United States and Canada, please dial 888-210-
The Board of Directors of U.S. Bancorp (NYSE:USB) has declared a regular quarterly dividend of $0.49 per common share, payable July 15, 2024, to stockholders of record at the close of business on June 28, 2024. At this quarterly dividend rate, the annual dividend is equivalent to $1.96 per common share. The Board of Directors also declared the following: A regular quarterly dividend of $1,670.904 per share (equivalent to $16.709040 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable July 15, 2024, to stockholders of record at the close of business on June 28, 2024. A regular quarterly dividend of $391.184 per share (equivalent to $
U.S. Bancorp reported its first quarter 2024 results today. The earnings release, earnings supplement and slide presentation can be accessed online at ir.usbank.com/investor-relations/financial-information. At 7 a.m. Central Time, Chairman, President and Chief Executive Officer Andy Cecere and Senior Executive Vice President and Chief Financial Officer John Stern will host a conference call to review the financial results. The conference call will be available online or by telephone. To access the webcast and presentation, visit U.S. Bancorp's website at usbank.com and click on "About Us," "Investor Relations" and "Webcasts & Presentations." To access the conference call from locations wi
U.S. Bancorp (NYSE:USB) will release its first quarter 2024 earnings results before the market opens on Wednesday, April 17, 2024. At 7 a.m. CT, Chairman, President and Chief Executive Officer Andy Cecere and Senior Executive Vice President and Chief Financial Officer John Stern will host a conference call to review the financial results. The live conference call will be available online or by telephone. Via internet: To access the webcast and presentation, visit the U.S. Bancorp website at usbank.com and click on "About Us", "Investor Relations" and "Webcasts & Presentations." Via telephone: To access the conference call from locations within the United States and Canada, please di
The Board of Directors of U.S. Bancorp (NYSE:USB) has declared a regular quarterly dividend of $0.49 per common share, payable April 15, 2024, to stockholders of record at the close of business on March 29, 2024. At this quarterly dividend rate, the annual dividend is equivalent to $1.96 per common share. The Board of Directors also declared the following: A regular quarterly dividend of $1,667.221 per share (equivalent to $16.672210 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable April 15, 2024, to stockholders of record at the close of business on March 29, 2024. A regular quarterly dividend of $390.264 per share (equivalent
U.S. Bancorp reported its fourth quarter 2023 results today. The earnings release, earnings supplement and slide presentation can be accessed online at ir.usbank.com/investor-relations/financial-information. At 7 a.m. Central Time, Chairman, President and Chief Executive Officer Andy Cecere and Senior Executive Vice President and Chief Financial Officer John Stern will host a conference call to review the financial results. The conference call will be available online or by telephone. To access the webcast and presentation, visit U.S. Bancorp's website at usbank.com and click on "About Us," "Investor Relations" and "Webcasts & Presentations." To access the conference call from locations w
JP Morgan downgraded U.S. Bancorp from Overweight to Neutral and set a new price target of $43.50
Keefe Bruyette downgraded U.S. Bancorp from Outperform to Mkt Perform and set a new price target of $45.00 from $52.00 previously
HSBC Securities upgraded U.S. Bancorp from Hold to Buy and set a new price target of $53.00 from $47.00 previously
Compass Point upgraded U.S. Bancorp from Neutral to Buy and set a new price target of $49.00 from $46.00 previously
Stephens downgraded U.S. Bancorp from Overweight to Equal-Weight
Robert W. Baird downgraded U.S. Bancorp from Outperform to Neutral and set a new price target of $52.00
Odeon upgraded U.S. Bancorp from Hold to Buy
HSBC Securities initiated coverage of U.S. Bancorp with a rating of Hold and set a new price target of $30.00
DA Davidson reiterated coverage of U.S. Bancorp with a rating of Neutral and set a new price target of $41.00 from $39.00 previously
Raymond James upgraded U.S. Bancorp from Underperform to Mkt Perform