Never a flashy bank even in the heights of the boom times, U.S. Bancorp (USB) is a pretty good example of what basic "blocking and tackling" can achieve in regional banking. Fourth quarter results were by no means flawless, but U.S. Bancorp continues to perform exceptionally well and may well be one of the best banks in the country today. Better still, widespread investor pessimism on banks has kept a lid on these shares.
A So-So End To The Year
Although U.S. Bancorp had a decent close to the year, it wasn't any kind of blowout. Adjusted earnings of $0.64 just barely beat the consensus, though U.S. Bancorp hasn't had to rely on the large reserve releases of so-called money center banks like JPMorgan (JPM) or Citigroup (C).
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A Lack Of Surprises Favors U.S. Bancorp
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