COO Andy Cecere to Succeed Richard Davis as CEO of U.S. Bancorp
U.S. Bancorp’s fourth quarter and full-year results were largely in line with our expectations, and we are maintaining our fair value estimate of $49 per share. U.S. Bancorp has a reputation for consistent results, and this quarter was no exception. The bank finished 2016 with full-year return on assets of 1.36% and full-year return on common equity of 13.4%, both industry leading figures.U.S. Bancorp saw robust loan growth for the year, growing 5.6% organically. As we have witnessed for other ...
U.S. Bancorp is a multi-state financial services holding company. Through its subsidiaries, the company provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. The company also engages in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage and leasing. The company's subsidiary, U.S. Bank National Association, is engaged in the general banking business, principally in domestic markets. 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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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