U.S. Bancorp (USB) made various enhancements and strategic decisions this week, like the $5 billion common stock repurchase program and increase in quarterly common stock dividend. Despite a decrease in Q1 profit and adjustment in 2024 interest income forecast, the company's stock has seen growth due to rise in deposits and credit card spending. Institutional owners continue to hold 80% of the company and there's optimism around its outlook even with a decline in earnings over the year. USB has also on-boarded Arijit Roy to it's managing committee and promoted president Gunjan Kedia. While the company has been underperforming relative to the financial sector, newer investment plans have been on-boarded by MBB Public Markets I LLC, Point72 Europe London LLP, RW Investment Management LLC amongst others. However, caution surrounding USB's stock is noticed due to insiders selling shares worth US$1.9m. Additionally, USB is set to lead the industry through its new card and savings combination while also acquiring a healthcare payment platform.
US Bancorp USB News Analytics from Fri, 16 Feb 2024 21:30:19 GMT to Sun, 29 Sep 2024 16:32:31 GMT -
Rating 3
- Innovation 2
- Information 6
- Rumor -2
