About US Bancorp
U.S. Bancorp is a financial services holding company. The Company provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing. Its banking subsidiary, U.S. Bank National Association, is engaged is us bancorp the same as us bank the general banking business and offers commercial and consumer lending, lending services, depository services and ancillary services. Its non-banking subsidiaries offer investment and insurance products to the Company's customers principally within its domestic markets, and fund administration services to a range of mutual and other funds. 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.
Andrew J. Cecere
Chairman of the Board, President, Chief Executive Officer
Katherine B. Quinn
Vice Chairman, Chief Administrative Officer
Jodi L. Richard
Vice Is us bancorp the same as us bank, Chief Risk Officer
Terrance R. Dolan
Vice Chairman, Chief Financial Officer
Vice Chairman - Wealth Management & Investment Services
2.23 mean rating - 22 analysts
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Return is us bancorp the same as us bank Equity (TTM)
Who Owns U.S. Bancorp?
When it comes to investing, going with the crowd will rarely -- if ever -- make you rich. If your objective is to buy low and sell high, then in the words of Warren Buffett, you must be "greedy when others are fearful and fearful when others are greedy." This is the foundation of contrarian investing.
But there's a twist. Is us bancorp the same as us bank be a contrarian investor, you must first know what to be contrary to. And this is where the SEC's is us bancorp the same as us bank EDGAR database comes in. Every quarter, companies and large institutional investors are required to disclose their equity holdings. By patching these together, we can get a fuller picture of a particular stock's popularity.
What follows, in turn, is a look at the principal owners of U.S. Bancorp's (NYSE:USB) outstanding common stock.
A broad overview
As you can see in the following chart, the majority of U.S. Bancorp's 1.9 billion shares are held by institutional investors. Company insiders, including board members and corporate executives, own a further 0.11% of the outstanding common stock. And the public at large owns the remaining 28%.
Source: S&P's Capital IQ.
Digging in a big further, the largest institutional stakeholders in U.S. Bancorp are bond giant BlackRock, followed by Fidelity Investments, The Vanguard Group, the asset management arm of State Street, and T. Rowe Price Group.
Source: S&P's Capital IQ.
The largest buyers have been BlackRock and Citadel LLC, which have recently acquired 9.9 million and 4.6 million shares of common stock, respectively. Meanwhile, the two largest sellers of late have been Marsico Capital Management and Fidelity Investments, which have disposed of 10.9 million and 4.3 million shares, respectively.
Turning to inside investors, the largest inside owner is Richard Davis, U.S. Bancorp's chairman and chief executive officer. The second largest holder is David O'Maley, a director of the bank. And the third largest holder is Andrew Cecere, the bank's chief financial officer.
Source: S&P's Capital IQ.
The Foolish bottom line
While insider and institutional ownership together represent only one metric, it's nevertheless an important one. Beyond hinting at the overall market's sentiment toward a stock, it also gives investors insight into the confidence of the people best positioned to predict a company's current state and future success.
U.S. Bancorp buying MUFG Union Bank for $8 billion
In what would be the latest is us bancorp the same as us bank of regional banks, U.S. Bancorp in Minneapolis is acquiring MUFG Union Bank in San Francisco for $8 billion in cash and stock.
The deal, announced early Tuesday, would add roughly $58 billion of loans and $90 billion of deposits to U.S. Bancorp’s balance sheet, significantly boosting the bank's market share in California. The $547.8 billion-asset parent of U.S. Bank has the No. 10 deposit share in the nation’s largest state and would move to the No. 5 position when its deal for MUFG Union Bank is completed in the first half of 2022.
“The acquisition of MUFG Union Bank underscores our commitment to strengthen and grow our business on the West Coastmake investments to serve customers and local communities and enhance competition in the financial services industry. With MUFG Union Bankwe will first hawaiian bank foundation access to state-of-the-art financial products while maintaining U.S. Bank’s strong track record of putting its customers and communities first,” Andy Cecere, U.S. Bancorp’s chairman, president and chief executive officer, said in a news release Tuesday.
MUFG Union Bank’s owner, Japanese banking giant Mitsubishi UFJ Financial Group, had reportedly been exploring a sale of its U.S. operations as banks of all sizes look to pair up with rivals to try to keep pace is us bancorp the same as us bank the likes of JPMorgan Chase, Bank of America and Wells Fargo and use cost savings from mergers to invest in technology.
The deal would mark the latest retreat from the U.S. by foreign-owned companies. Earlier this year, PNC Financial Services Group in Pittsburgh acquired the U.S. operations of Spain’s Banco Bilbao Vizcaya Argentaria for about $11.6 billion and HSBC announced it is selling the bulk of its U.S. retail operations to Citizens Financial Group in Providence, Rhode Island.
Bank Leumi Le-Israel BM is also considering selling its New York-based U.S. operations.
For U.S. Bank, the deal would be its first whole bank acquisition since it bought more than a dozen failed banks during the financial crisis.
In a news release, U.S. Bank said it would pay $5.5 billion in cash and 44 million shares for the $133 billion-asset MUFG Union Bank. The deal price is equal to about 1.3 times MUFG Union Bank’s tangible book value, slightly below the median of 1.4 times book value on bank deals announced so far this, according to data compiled by Bloomberg.
U.S. Bank said it expects the deal to be 6% accretive to earnings in 2023 and 8% accretive when the merger is fully integrated.
U.S. Bank also said it expects to reduce the combined company’s annual expenses by about $900 million, through a combination of branch and real estate consolidation, technology and systems conversion and other back is us bancorp the same as us bank efficiencies. U.S. Bank has more than 460 branches in California and MUFG Union Bank has about 280, according to the Federal Deposit Insurance Corp.
Though U.S. Bank is likely to shutter many overlapping branches to cut costs and improve efficiency, it said in a news release that it is committed to retaining all of MUFG Union Bank’s front-line branch employees.
U.S. Bank expects to incur merger charges of $1.2 billion.
The deal’s announcement comes just a day after MUFG Union Bank revealed that it was hit with a consent order from the Office of the Comptroller of boost mobile pay bill espanol Currency for failing to comply with information technology security guidelines from federal regulators.
U.S. Bank said it incorporated the regulatory matter into its decision and believes it can “successfully remediate the issues.”
“The order will not restrict U.S. Bancorp’s ability to operate and grow its business as planned,” it said Tuesday’s news release.
Goldman Sachs advised U.S. Bank on the deal and Simpson Thacher & Bartlett served as its legal counsel.