Last $42.75 USD
Change Today +0.02 / 0.05%
Volume 5.4M
USB On Other Exchanges
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As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

800 Nicollet Mall

Minneapolis, MN 55402

United States

Phone: 651-466-3000

Fax:

U.S. Bancorp operates as a multi-state financial services holding company. The company provides a range of financial services, including lending and depository services, cash management, and trust and investment management services. The company provides a range of products and services to individuals, businesses, institutional organizations, governmental entities and other financial institutions. Commercial and consumer lending services are principally offered to customers within its domestic markets, to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the company. Segments Wholesale Banking and Commercial Real Estate: This segment offers lending, equipment finance and small-ticket leasing, depository services, treasury management, capital markets, international trade services and other financial services to middle market, large corporate, commercial real estate, financial institution, non-profit and public sector clients. Consumer and Small Business Banking: This segment delivers products and services through banking offices, telephone servicing and sales, on-line services, direct mail, ATM processing and mobile devices, such as mobile phones and tablet computers. It encompasses community banking, metropolitan banking, in-store banking, small business banking, consumer lending, mortgage banking, workplace banking, student banking and 24-hour banking. Wealth Management and Securities Services: This segment provides private banking, financial advisory services, investment management, retail brokerage services, insurance, trust, custody and fund servicing through five businesses, such as wealth management, corporate trust services, U.S. Bancorp asset management, institutional trust and custody and fund services. Payment Services: This segment includes consumer and business credit cards, stored-value cards, debit cards, corporate and purchasing card services, consumer lines of credit and merchant processing. Treasury and Corporate Support: This segment includes its investment portfolios, most covered commercial and commercial real estate loans and related other real estate owned, funding, capital management, and interest rate risk management. Lending Activities The company’s lending services include traditional credit products, as well as credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance and other products. Deposits The company’s depository services include checking accounts, savings accounts and time certificate contracts. Other Services Ancillary services, such as capital markets, treasury management and receivable lock-box collection are provided to corporate customers. The company’s bank and trust subsidiaries provide a range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations. The company’s non-banking subsidiaries primarily offer investment and insurance products to the company’s customers principally within its markets, and fund processing services to a range of mutual and other funds. Banking and investment services are provided through a network of 3,081 banking offices principally operating in the midwest and west regions of the United States. The company operates a network of 4,906 ATMs and provides 24-hour, 7 day a week telephone customer service. Mortgage banking services are provided through banking offices and loan production offices throughout the company’s markets. The company is a provider of Visa corporate and purchasing card services and corporate trust services in the United States. A wholly-owned subsidiary, Elavon, Inc. (Elavon), provides merchant processing services directly to merchants and through a network of banking affiliations. Affiliates of Elavon provide similar merchant services in Canada, Mexico, Brazil and segments of Europe. Investment Portfolio As of December 31, 2013, the company’s investment portfolio included U.S. treasury and agencies; Mortgage-backed securities; asset-backed securities; obligations of state and political subdivisions; and other debt securities and investments Strategy The company’s strategy for credit risk management includes well-defined, centralized credit policies, uniform underwriting criteria, and ongoing risk monitoring and review processes for all commercial and consumer credit exposures. The strategy also emphasizes diversification on a geographic, industry and customer level, regular credit examinations and management reviews of loans exhibiting deterioration of credit quality. Government Policies The operations of the company’s various operating units are affected by federal and state legislative changes and by policies of various regulatory authorities, including those of the various states in which they operate, the United States and foreign governments. These policies include statutory maximum legal lending rates, domestic monetary policies of the Board of Governors of the Federal Reserve System (the Federal Reserve), United States fiscal policy, international currency regulations and monetary policies and capital adequacy and liquidity constraints imposed by bank regulatory agencies. Supervision and Regulation The company and its subsidiaries are subject to the extensive regulatory framework applicable to bank holding companies and their subsidiaries. This regulatory framework is intended primarily for the protection of depositors, the deposit insurance fund of the Federal Deposit Insurance Corporation (the FDIC), consumers and the stability of the financial system in the United States. The company is subject to the provisions of the Community Reinvestment Act. The company is subject to regulatory capital requirements (the Basel I or general risk-based capital rules) established by the Federal Reserve, and U.S. Bank National Association is subject to substantially similar rules established by the Office of the Comptroller of the Currency. History U.S. Bancorp was founded in 1863.

 

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Industry Analysis

USB

Industry Average

Valuation USB Industry Range
Price/Earnings 14.1x
Price/Sales 4.4x
Price/Book 2.0x
Price/Cash Flow 13.3x
TEV/Sales 0.2x
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