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 (NYSE:BAC), Great Southern Bancorp (NASDAQ:GSBC), and Wells Fargo (NYSE:WFC) 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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