Investment activity in U.S. Bancorp (NYSE:USB) appears to be split with Griffin Asset Management, Hennessy Advisors, AdvisorNet Financial, and several others selling shares, while firms like Chemung Canal Trust Co., MCF Advisors, and Global Assets Advisory are increasing their stakes. U.S. Bancorp's subsidiary announces a new cloud payments interface. The firm survives the Dodd-Frank Act Stress Test and plans a 2% dividend increase to $0.50 with a robust institutional backing of 79%. However, despite outperforming competitors, U.S. Bancorp's stock trails the S&P 500 by 17%. Executive Tim Welsh plans to exit the company, prompting a succession plan. JP Morgan has downgraded U.S. Bancorp to neutral due to higher capital requirements even though Evercore ISI has raised the price target to $48.00. &Partners and others have invested in the firm, but the bank's Q2 earnings reveal increased expenses. Legal issues prevail for U.S. Bancorp. The company's 2024 interest income forecast has been cut and Q1 profit fell by 22%. Evercore ISI has given a new price target of $48.00, and despite high costs, U.S. Bancorp rides on a solid deposit base. The Q1 2024 earnings call transcript is released, and despite some market underperformance, some expect U.S. Bancorp to rebound.
US Bancorp USB News Analytics from Wed, 13 Dec 2023 08:00:00 GMT to Sun, 30 Jun 2024 13:01:02 GMT - Rating 0 - Innovation 1 - Information 5 - Rumor -3
