U.S. Bancorp - USB STOCK NEWS

U.S. Bank has launched a new passive currency hedging service aimed at asset managers and owners as part of its Global Currency Management solutions. This innovative tool offers institutional investors a fully automated and scalable approach to portfolio and share class currency hedging, incorporating advanced technology from Lumint Corporation. It allows clients to mitigate FX volatility while maintaining asset performance. The solution also features comprehensive reporting and analytics to track performance, thereby streamlining currency management and reducing operational costs for clients.

U.S. Bank has entered into a definitive agreement to acquire the Debt Servicing and Securities Custody Services client portfolio from MUFG Union Bank, encompassing approximately 600 client relationships and $320 billion in assets under custody. This acquisition aims to enhance U.S. Bank's presence on the West Coast and strengthen its position in corporate trust and custody services. The deal is expected to close in Q1 2021, pending regulatory approval. U.S. Bank manages over $7.7 trillion in assets globally, emphasizing its commitment to offering tailored solutions for its clients.

U.S. Bancorp (NYSE: USB) will announce its fourth quarter 2020 earnings on January 20, before market open. CEO Andy Cecere and CFO Terry Dolan will host a conference call at 8 a.m. CT to discuss the financial results. There are options to join the call via the U.S. Bank website or by telephone. A replay will be available beginning at 11:00 a.m. CT that day until February 3. As of September 30, 2020, U.S. Bancorp has over $540 billion in assets and is recognized as one of the 2020 World’s Most Ethical Companies.

U.S. Bancorp (NYSE: USB) received results from the December 2020 Stress Test, maintaining a common equity tier 1 (CET1) capital requirement of 7.0%. The minimum CET1 ratios under severe scenarios were 7.6% and 7.8%. Due to ongoing economic uncertainty, capital restrictions will continue into Q1 2021, including capped dividends and share repurchases. The board plans to maintain a dividend of $0.42 per share and has authorized a $3 billion share repurchase program starting January 2021. These measures aim to strengthen shareholder value and capital management amidst economic challenges.

U.S. Bancorp has announced the redemption of its outstanding 2.35% Medium-Term Notes, Series V, on December 29, 2020, and all 3.00% Senior Notes due February 4, 2021, on January 4, 2021. The redemption price for these notes will be $1,000 per $1,000 original principal amount, plus any accrued interest. Payments will be made via The Depository Trust Company. U.S. Bancorp is a major financial institution with over 70,000 employees and $540 billion in assets as of September 30, 2020, and is recognized for its ethical practices.

U.S. Bancorp has announced the redemption of all outstanding Series H Non-Cumulative Perpetual Preferred Stock on January 15, 2021, at a price of $25,000 per share. The Series H Depositary Shares will also be redeemed, with the redemption price excluding any unpaid dividends. Holders can expect a regular quarterly dividend payment of $321.88 per share, paid separately on the same date. Following redemption, these shares will be delisted from the New York Stock Exchange. This release serves as notification, not an official redemption notice.

U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.42 per common share, payable on January 15, 2021, for stockholders of record by December 31, 2020. The annualized dividend stands at $1.68 per common share. Additionally, dividends were declared for various series of non-cumulative perpetual preferred stock, with payments ranging from $203.13 to $894.44 per share, also payable on January 15, 2021. This signifies a commitment to shareholder returns amid strong asset management, with U.S. Bancorp managing over $540 billion in assets.

U.S. Bancorp (NYSE: USB) announced that Chairman and CEO Andy Cecere, alongside CFO Terry Dolan, will present at the virtual Goldman Sachs U.S. Financial Services Conference. The presentation is scheduled for 10:40 a.m. ET on December 9. A live webcast of the event will be accessible on the Investor Relations website under the Webcasts and Presentations section. U.S. Bancorp is the parent company of U.S. Bank National Association, one of the largest commercial banks in the U.S., boasting over $540 billion in assets and a commitment to ethical banking practices.

U.S. Bank has announced the launch of its Luxembourg office, enhancing its Global Fund Services. The office will provide fund accounting, administration, and custody services for Luxembourg-based funds. Didier Delvaux, who leads the office, has over 25 years of related experience. U.S. Bank aims to focus on private equity and private debt funds, citing the need for expertise in a complex regulatory environment. The bank holds over $7.7 trillion in assets under custody globally and is committed to maintaining a strong ethical reputation in the fund servicing industry.