Last $43.45 USD
Change Today +0.42 / 0.98%
Volume 2.1M
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As of 9:40 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

us bancorp (USB) Key Developments

U.S. Bancorp Announces Quarterly Dividends on Common Share and Preferred Stock, Payable on October 15, 2014

The Board of Directors of U.S. Bancorp has declared a quarterly dividend of $0.245 per common share, payable October 15, 2014, to stockholders of record at the close of business on September 30, 2014. At this quarterly dividend rate, the annual dividend is equivalent to $0.98 per common share. The Board of Directors has also declared the following: A regular quarterly dividend of $894.444 per share (equivalent to $8.94444 per depositary share) on U.S. Bancorp's Series A Non-Cumulative Perpetual Preferred Stock, payable October 15, 2014, to stockholders of record at the close of business on September 30, 2014; A regular quarterly dividend of $223.61 per share (equivalent to $0.22361 per depositary share) on U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock, payable October 15, 2014, to stockholders of record at the close of business on September 30, 2014;A regular quarterly dividend of $406.25 per share (equivalent to $0.40625 per depositary share) on U.S. Bancorp's Series F Non-Cumulative Perpetual Preferred Stock, payable October 15, 2014, to stockholders of record at the close of business on September 30, 2014; A regular quarterly dividend of $375.00 per share (equivalent to $0.37500 per depositary share) on U.S. Bancorp's Series G Non-Cumulative Perpetual Preferred Stock, payable October 15, 2014, to stockholders of record at the close of business on September 30, 2014; A regular quarterly dividend of $321.88 per share (equivalent to $0.32188 per depositary share) on U.S. Bancorp's Series H Non-Cumulative Perpetual Preferred Stock, payable October 15, 2014, to stockholders of record at the close of business on September 30, 2014.

U.S. Bank Plans to Open a Branch in Maryland Heights

U.S. Bank will open a branch in Maryland Heights at next month, its first new standalone location here in 19 years. The company has opened in-store or remodeled branches in recent years, but the new branch at Page Avenue near Lindbergh Boulevard is its first new standalone location since 1995.

U.S. Bancorp Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 07:30 AM

U.S. Bancorp Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 07:30 AM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: Richard K. Davis, Chairman, Chief Executive Officer, President, Chairman of Executive Committee, Member of Risk Management Committee, Chairman of US Bank, Chief Executive Officer of US Bank and President of US Bank.

U.S. Bank to Close Oakwood Branch on November 22, 2014

The Oakwood U.S. Bank branch announced to customers it will close November 22, 2014. The bank's four employees will move to the other U.S. Bank locations in the area.

U.S. Bancorp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Charge-Offs for the Second Quarter of 2014

U.S. Bancorp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income was $3,047 million against $3,038 million a year ago. Net interest income was $2,689 million against $2,616 million a year ago. Net interest income after provision for credit losses was $2,365 million against $2,254 million a year ago. Income before income taxes was $2,056 million against $1,973 million a year ago. Net income was $1,509 million against $1,444 million a year ago. Net income attributable to U.S. Bancorp was $1,495 million against $1,484 million a year ago. Net income applicable to U.S. Bancorp common shareholders was $1,427 million or $0.78 per diluted share against $1,405 million or $0.76 per diluted share a year ago. Return on average assets of 1.60% against 1.70% a year ago. Return on average common equity of 15.1% against 16.1% a year ago. Book value per common share was $20.98 against $18.94 a year ago. For the six months, the company reported total interest income was $6,069 million against $6,149 million a year ago. Net interest income was $5,339 million against $5,269 million a year ago. Net interest income after provision for credit losses was $4,709 million against $4,504 million a year ago. Income before income taxes was $3,964 million against $3,918 million a year ago. Net income was $2,921 million against $2,831 million a year ago. Net income attributable to U.S. Bancorp was $2,892 million against $2,912 million a year ago. Net income applicable to U.S. Bancorp common shareholders was $2,758 million or $1.51 per diluted share against $2,763 million or $1.49 per diluted share a year ago. Return on average assets of 14.9% against 16.1% a year ago. Return on average common equity of 14.9% against 16.1% a year ago. The company reported total net charge-offs in the second quarter of 2014 were $349 million compared with $392 million in the second quarter of 2013. The $8 million (2.3%) increase in net charge-offs on a linked quarter basis was due to higher charge-offs in commercial loan portfolios, partially offset by improvements in the home equity and second mortgages portfolio, while the $43 million (11.0%) decrease in net charge-offs on a year-over-year basis reflected improvements in residential mortgages and home equity and second mortgages, partially offset by higher commercial loan charge-offs and lower recoveries in commercial real estate.

 

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USB

Industry Average

Valuation USB Industry Range
Price/Earnings 14.1x
Price/Sales 4.3x
Price/Book 2.0x
Price/Cash Flow 13.2x
TEV/Sales 0.1x
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