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Stock Market & Financial Investment News

News Breaks
April 16, 2012
10:39 EDTUSBU.S. Bancorp April option prices bid up into Q1 and outlook
U.S. Bancorp April call option implied volatility is at 37, May is at 25; below its 26-week average of 27 according to Track Data, suggesting decreasing price movement in the expected release of Q1 results on April 17.
News For USB From The Last 14 Days
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April 22, 2014
07:26 EDTUSBInformation Management Network to hold a conference
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07:24 EDTUSBSourceMedia to hold a forum
26th Annual Card Forum & Expo is being held in Orlando on April 22-25.
06:19 EDTUSBInvestment banks battling over stock trading, WSJ reports
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April 17, 2014
06:31 EDTUSBBig banks boosting their business lending, WSJ reports
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April 16, 2014
09:33 EDTUSBU.S. Bancorp sees Q2 NIM declining
Says sees mortgage revenue rising slightly in Q2 due to seasonality.
09:32 EDTUSBU.S. Bancorp CEO says sees 2H14 better than 1H
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09:12 EDTUSBU.S. Bancorp says non-performing assets to remain stable in Q2
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07:21 EDTUSBU.S. Bancorp: Credit quality to remain 'relatively stable' in coming quarters
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07:20 EDTUSBU.S. Bancorp says expects to recommend Q2 dividend of 24.5c per share, up 6.5%
Says 24.5c per share dividend would be a 6.5% increase. Reports Q1 provision for credit losses $306M, net charge-offs $341M. Reports Q1 allowance for credit losses $4.5B. Reports Q1 net interest income $2.71B. Ratios at March 31, were: Basel III transitional: Common equity tier 1 capital ratio of 9.7%, Tier 1 capital ratio of 11.4%, Total risk based capital ratio of 13.5%; Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented standardized approach of 9%.
07:17 EDTUSBU.S. Bancorp reports Q1 EPS 73c, consensus 73c
Reports Q1 revenue $4.81B, consensus $4.8B. U.S. Bancorp Chairman, President and CEO Richard K. Davis said, “Our first quarter earnings of $1.4 billion, or $.73 per diluted common share, demonstrated our Company’s ability to generate strong results in the face of a slow-growing and uncertain economy. Our industry-leading returns on average assets of 1.56 percent and average common equity of 14.6 percent, combined with our strong efficiency ratio of 52.9 percent, remain among the top performance ratios in our peer group. Our performance clearly reflects the advantage of our diversified business mix and disciplined expense management which has enabled us to withstand the revenue challenges facing our industry in this slow-growth economy. Average loan growth remained strong at 6.0 percent year-over-year and 1.3 percent on a linked quarter basis. Total loan and commitment growth continued to be an area of strength for the Bank, particularly highlighted by our commercial business, which grew loans by 8.5 percent year-over-year and 2.8 percent on a linked quarter basis. This growth demonstrates our ability to gain market share as customers choose to partner with us to expand their businesses when opportunities arise. Credit quality continued to be strong in the first quarter as net charge-offs declined 21.2 percent compared with the prior year and rose modestly on a linked quarter basis due to unusually high recoveries in the prior quarter. Nonperforming assets, excluding covered assets, fell by 1.0 percent and delinquencies also improved in the quarter. Overall credit quality is expected to remain relatively stable in the coming quarters."
April 15, 2014
15:19 EDTUSBNotable companies reporting before tomorrow's open
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April 14, 2014
08:32 EDTUSBU.S. Bancorp to acquire document custodian business from Ally Bank
U.S. Bancorp (USB) announced that its lead bank, U.S. Bank National Association, has entered into a definitive agreement to purchase the document custodian business of Ally Bank (ALLY). The acquisition of Ally’s document custodian business, which is expected to close early in the second quarter of 2014, will add up to 40 employees to U.S. Bank, one new service location in Waterloo, Iowa and increase documents under custody by 15%.
April 10, 2014
06:35 EDTUSBMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
06:35 EDTUSBRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTUSBBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link

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