On Monday, U.S. Bancorp's shares fell 0.62% to $35.27, breaking a two-day winning streak despite broader market gains. The S&P 500 and Dow Jones rose by 0.18% and 0.10%, respectively, yet the banking giant's shares failed to follow suit.
The closing price was notably $14.68 below the company's annual high of $49.95 set on January 26th, highlighting a mixed performance in comparison to other banks such as Bank of America, Great Southern Bancorp (NASDAQ:GSBC), and Wells Fargo which also reported losses.
Trading volume for U.S. Bancorp significantly decreased, with only 7.6 million shares changing hands on Monday. This figure falls notably short of the average 50-day volume by 5.4 million shares.
InvestingPro Insights
InvestingPro's real-time data and tips provide further insights into U.S. Bancorp's (USB) performance. As of the last twelve months ending Q3 2023, USB has a market cap of 54.92B USD, and a P/E ratio of 9.46, suggesting the company is undervalued relative to its earnings. Its revenue growth for the same period stands at 8.5%, indicating a positive trend.
Two key InvestingPro Tips for USB are worth noting. Firstly, USB has high earnings quality, with free cash flow exceeding net income. This suggests the company is in a strong financial position. Secondly, USB has consistently raised its dividend for 53 consecutive years, demonstrating a commitment to returning value to shareholders.
These insights are just a glimpse of the wealth of information available on InvestingPro, which provides a total of 10 additional tips for USB. This data can provide invaluable insights for potential investors and current shareholders alike.
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