U.S. Bancorp’s (USB) lead banking division, U.S. Bank, expands its focus on the healthcare industry with the acquisition of Salucro Healthcare Solutions LLC. The buyout was completed on Aug 21, 2024. The financial terms of the deal were kept under wraps.Based in Tempe, AZ, Salucro is a provider of healthcare financial technology with a primary focus on patient payments and billing. Previously, Salucro had been a partner of Elavon, a subsidiary of U.S. Bank. In 2022, U.S. Bank made its initial investment in ...

VANCOUVER, Wash., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Cyber Acoustics, the leading manufacturer of edtech for all classroom environments, today announced the AC-6014 USB-C Headset, further expanding its line of technology solutions for all K-12 and virtual classrooms. The AC-6014 rounds out Cyber Acoustics’ line of USB-C offerings that includes the recently announced AC-4014 headset and the AC-5014 headset, both of which include microphones, as well as the ACM-6005C USB-C headphones that do not have a mic. “A ...

VANCOUVER, Wash., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Cyber Acoustics, the leading manufacturer of edtech for all classroom environments, today announced the AC-6014 USB-C Headset, further expanding its line of technology solutions for all K-12 and virtual classrooms. The AC-6014 rounds out Cyber Acoustics’ line of USB-C offerings that includes the recently announced AC-4014 headset and the AC-5014 headset, both of which include microphones, as well as the ACM-6005C USB-C headphones that do not have a mic. “A ...

U.S. Bancorp (USB) stock looks like an attractive investment option now. The company is well-positioned for organic and inorganic growth, given its solid balance sheet and liquidity position, and strategic partnerships and acquisitions. Analysts seem optimistic regarding the earnings growth prospects for this Zacks Rank #2 (Buy) stock. Over the past 30 days, the Zacks Consensus Estimate for USB’s 2024 earnings has been revised 1.8% upward. In the past month, shares of USB have gained 3.8% against the indust ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from (not applicable) Commission file number 1-6880 U.S. BANCORP (Exact name of registrant as specified in its charter) Delaware 41-0255900 (State or other jurisdiction of inc ...

EFR32MG21 SoC Tailored for Zigbee Applications Offers Several Advantages for ZBMicroAUSTIN, Texas, Aug. 1, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that its MG21 2.4 GHz wireless SoC had been selected by SONOFF for its new  ZBMicro smart switch, SONOFF's Micro Zigbee USB Smart Adaptor. ZBMicro is a groundbreaking addition to the realm of smart home technology. From its role as a smart switch for USB devi ...

Core Viewpoint - U.S. Bancorp (USB) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive earnings outlook that could positively influence its stock price [1][2]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for U.S. Bancorp for the fiscal year ending December 2024 is projected at $3.89 per share, reflecting a decrease of 9.7% from the previous year's reported figure [5]. - Over the past three months, analysts have raised their earnings estimates for U.S. Bancorp by 0.9% [5]. Impact of Institutional Investors - Changes in earnings estimates are strongly correlated with stock price movements, as institutional investors utilize these estimates to determine the fair value of a company's shares [3]. - An increase in earnings estimates typically leads to higher fair value calculations, prompting institutional investors to buy or sell stocks, which subsequently affects stock prices [3]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [4]. - The upgrade of U.S. Bancorp to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for near-term price appreciation [7].

U.S. Bancorp’s (USB) second-quarter 2024 adjusted earnings per share (excluding the impact of notable items) of 98 cents beat the Zacks Consensus Estimate by 2%. However, the bottom line declined 12.5% from the prior-year quarter's level.Shares of USB have increased around 4.1% in the early market trading session on better-than-anticipated earnings. A full day’s trading will depict a better picture.Results have benefited from higher deposits and lower expenses. However, a decline in net interest income (NII ...

Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $0.97, which included a notable item related to the FDIC special assessment, resulting in an adjusted earnings per share of $0.98 [6][9] - Return on tangible common equity increased to 18.6% on an adjusted basis [6] - Average total deposits increased by 2.2% to $514 billion, while average total loans rose by 1.0% to $375 billion [10][11] - The tangible book value per share increased to $23.15, reflecting a 2.8% increase from the previous quarter and a 10.1% increase year-over-year [7] - The common equity Tier-1 ratio improved to 10.3%, up 30 basis points from the prior quarter and 120 basis points from the previous year [18] Business Line Data and Key Metrics Changes - Fee income represented over 40% of total net revenue, benefiting from seasonal revenues across payment businesses and strong growth in trust and investment management fees [8] - Noninterest income increased by $115 million or 4.3% on a linked-quarter basis, driven by higher payments revenue and stronger mortgage banking fees [16] - Noninterest expense as adjusted decreased by $6 million or 0.1% on a linked-quarter basis, primarily due to lower compensation and employee benefit expenses [17] Market Data and Key Metrics Changes - Average noninterest-bearing deposits decreased by $1.4 billion or 1.6% on a linked-quarter basis, indicating a focus on relationship-based deposit generation [10] - The net charge-off ratio increased to 58 basis points, with expectations to approach 60 basis points in the second half of the year [14] Company Strategy and Development Direction - The company is focused on enhancing customer acquisition, improving client experiences, and deepening relationships to drive growth [20] - Management emphasized the importance of expense management and achieving positive operating leverage in the second half of the year [20] - The company aims to maintain a diversified revenue mix and strong risk management discipline to support future growth [20] Management's Comments on Operating Environment and Future Outlook - Management noted stabilization in credit quality metrics, with expectations for modest loan growth and cautious client behavior in the current economic environment [27][65] - The company anticipates stable net interest income for the third quarter, with potential growth in the fourth quarter depending on market conditions [19][29] - Management expressed confidence in capital levels and the ability to accrete capital, with plans for a potential increase in dividends [42] Other Important Information - The company is well-capitalized and prepared to manage potential industry stress resulting from macroeconomic downturns [18] - The Federal Reserve's stress test results indicated a need for increased capital buffers, which the company is addressing through prudent capital management [18] Q&A Session Summary Question: Discussion on NII trajectory - Management highlighted that net interest income growth is expected to stabilize in the third quarter, with potential growth in the fourth quarter depending on deposit rotation and market conditions [23][29] Question: Insights on commercial loan demand - Management noted pockets of loan growth in the corporate loan book, but overall loan growth remains tepid due to client caution [26][27] Question: Fee revenue growth outlook - Management expects mid-single-digit growth in fee revenue, driven by payments, trust investment management fees, and capital markets [31][34] Question: Credit outlook and charge-offs - Management anticipates charge-offs to approach 60 basis points in the second half of the year, with stabilization in delinquency rates [37][78] Question: Payment business growth - Management expects high single-digit growth in merchant and corporate payments, with mid-single-digit growth in credit and debit card areas [71]

For the quarter ended June 2024, U.S. Bancorp (USB) reported revenue of $6.84 billion, down 4.2% over the same period last year. EPS came in at $0.98, compared to $1.12 in the year-ago quarter.The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $6.81 billion. With the consensus EPS estimate being $0.96, the EPS surprise was +2.08%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...