U.S. Bancorp (NYSE:USB) has noted significant activity recently. On one hand, various institutions have increased their stake in the bank, with stakes being increased by Hexagon Capital Partners LLC, QRG Capital Management Inc., and Manning & Napier Advisors LLC among others. The company's Q2 earnings and revenues have outpaced estimates, leading to a surge in stock prices, presumably instigated by a rise in deposits and lending. The adjusted profit, however, has fallen due to increasing deposit costs. U.S. Bancorp's Q1 profit also has dipped by 22% followed by a cut in 2024 interest income forecast. Despite facing some headwinds, U.S. Bancorp remains a bank of choice for institutional owners as it enjoys a massive 79% ownership. Looking forward, the bank plans to increase its quarterly dividend further hinting at confidence in its future prospects. However, there have been reservations concerning high costs and lower Net Interest Income that may impact Q2 earnings.
US Bancorp USB News Analytics from Fri, 29 Dec 2023 08:00:00 GMT to Sun, 11 Aug 2024 14:59:14 GMT -
Rating 3
- Innovation -5
- Information 6
- Rumor -2
