Us Bancorp Stock Price, News & Analysis

U.S. Bank Foundation has awarded over $11.5 million in Community Possible grants to support local communities across the country. These grants focus on promoting play, arts, and cultural opportunities for underserved youth. Notable beneficiaries include:

1. Boys & Girls Clubs of the North Valley in California, supporting the Triple Play health and well-being program.

2. Puerto Rican Arts Alliance in Chicago, funding the Latin Music Project in 10 public schools.

In 2024, the U.S. Bank Foundation has provided over $23 million in Community Possible grants, with more planned throughout the year. The foundation aims to close gaps between people and possibility in the areas of work, home, and play.

Jo Murray, senior vice president in U.S. Bank's Global Corporate Trust, is preparing for 'The World's Toughest Row' in December 2025. This challenge involves rowing 3,000 miles across the Atlantic Ocean from the Canary Islands to the West Indies. Murray's team, 'The Only Way is Rowing,' consists of three women who have been training for over 18 months. The preparation includes securing a $100,000 specialized ocean rowing boat, extensive safety training, and physical conditioning. Murray balances this endeavor with her full-time role at U.S. Bank, where she leads the business management function within Corporate Trust in Europe. The team is also raising money for three nonprofits: Rewilding Britain, Wilderness Foundation UK, and Shelter.

U.S. Bancorp (NYSE: USB) has announced a $5 billion common stock repurchase program starting September 13, 2024, with repurchases beginning in early 2025. The company also declared a 2% increase in its quarterly dividend to $0.50 per common share, payable October 15, 2024. This brings the annual dividend to $2.00 per share. The repurchase program will be executed at the company's discretion, considering economic conditions and regulatory compliance. U.S. Bancorp may adjust capital distributions as needed, subject to Board approval. This program replaces the one approved on December 21, 2020. Additionally, the Board declared dividends on various series of preferred stock, all payable on October 15, 2024.

U.S. Bank's Thrive Thursday program is fostering employee engagement and connection across the company. The weekly virtual sessions, attended by over 1,000 team members, feature presentations on various topics including wellbeing, professional growth, and business spotlights. The program has expanded to include in-person watch parties and additional sessions on different days due to high demand.

Donte Turnage, a client relationship consultant in Cincinnati, credits Thrive Thursday for helping him overcome initial nervousness and feel more connected to colleagues. The program encourages active participation, with attendees engaging in chat discussions and Q&A sessions. Program host Sam Gonsalves emphasizes that Thrive Thursday's success stems from its focus on employee-led development and fostering a sense of belonging within the company culture and strategy.

U.S. Bank has introduced Paze℠, a new online checkout solution for eligible credit and debit cardholders. Paze offers a convenient shopping experience without manual card entry, new passwords, or third-party app downloads. The bank is promoting Paze usage through special offers and providing integration options for businesses via Elavon's Converge Payment Gateway.

Key features of Paze include:

• Enhanced security through card number tokenization
• Easy activation via U.S. Bank app or website
• No additional transaction fees for merchants
• Seamless integration for e-commerce businesses

U.S. Bank aims to deliver innovative, simple, and secure payment solutions to meet client expectations in online shopping.

Dru Christine Fabrics & Design, owned by Andrea "Dru" Thompson, is a versatile fashion hub in downtown Cleveland. The store offers a wide range of clothing and serves as a studio for sewing classes, wig making, and fashion design workshops for both adults and children. Thompson, a U.S. Bank customer since 2002, has expanded her relationship to include business banking services. With guidance from U.S. Bank Business Access Advisor Norlynn Story, Thompson recently completed a financial literacy course, leading to improved financial outcomes for her small business. Thompson praised U.S. Bank for recognizing and supporting her as a small business owner, emphasizing the personal value of her enterprise despite its size.

U.S. Bank has unveiled two new U.S. Bank Smartly® products: the U.S. Bank Smartly™ Visa Signature® Card and U.S. Bank Smartly® Savings. These products are designed to work together, offering up to 4% cash back on card purchases and up to 4.10% APY on savings with qualifying balances of $100,000 or more.

The credit card offers a baseline of 2% cash back on every purchase, which can increase based on the cardholder's combined average daily eligible balance. The savings account, available in all 50 states, offers competitive rates when paired with the Smartly Card or an eligible checking account. These new offerings complement the existing Bank Smartly® Checking and U.S. Bank Smartly® Rewards products.

U.S. Bank is also highlighting its digital banking capabilities, including its highly-rated mobile app, which allows for quick account opening, loan applications, and features like cobrowse technology and DIY direct deposit switching.

U.S. Bancorp (NYSE: USB) has announced plans to host an Investor Day on September 12, 2024, in New York. The event will feature presentations by Chairman and CEO Andy Cecere, along with other key management team members. While in-person attendance is by invitation only, a live video webcast will be available to the public from 8:00 AM to 12:00 PM ET.

Interested parties can access the webcast and presentations through the U.S. Bancorp website at usbank.com by navigating to the 'About Us,' 'Investor Relations,' and 'Webcasts & Presentations' sections. A replay of the webcast will be made available within 24 hours after the event concludes.

U.S. Bank's 2024 Small Business Perspective report reveals that 73% of American small businesses have grown in the past year, with even higher growth rates for Black (84%) and Hispanic (80%) owners. Despite this growth, 52% of businesses report being understaffed, and 77% face a more competitive labor market. To address these challenges, 83% of owners plan to offer flexible hours for better work-life balance.

The report also highlights the increasing adoption of digital tools and AI solutions, with 75% of owners planning to focus on digital tools in the next year. 60% have already implemented AI or automation solutions. However, 47% of owners worry about their company being replaced by automation. The top macroeconomic stressors for small businesses include competition (73%), economic environment (71%), and inflation (65%).