U.S. Bancorp (NYSE:USBpH.PFD)

$ 22.88 -0.2 (-0.87%) Market Cap: - Enterprise Value: 44.63 Bil PE Ratio: 16.14 PB Ratio: 1.58 GF Score: 72/100

U.S. Bancorp at RBC Capital Markets Global Financial Institutions Conference (Virtual) Transcript

Mar 10, 2021 / 07:00PM GMT

Release Date Price: $23.21 (+0.78%)

Transcript

Gerard Sean Cassidy

RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst

Good afternoon. This is Gerard Cassidy from RBC Capital Markets. Welcome to our 25th Annual Financial Institutions Conference. This fireside chat is with U.S. Bancorp. As many of you know, U.S. Bancorp is the fifth largest bank in the United States, has about $554 billion in assets, operates in 26 states, has about 68,000 employees and close to 23 -- 2,375 branches. The market cap is an impressive $79 billion and the stock trades at about 1.6x book value, has a dividend yield of close to 3.3% and their CET1 ratio is 9.7%. And then lastly, they have been able to -- or announce, I should say, $2.7 billion buyback for 2021.

Joining us today from U.S. Bancorp is Terry Dolan, Vice Chair and CFO. Terry has been in this position since 2016, and he's been with the company, as many of you know, since the late 1990s. We also are very fortunate today to have Jeff von Gillen -- or Gillern, I apologize, Jeff, Vice Chair of Technology and Operations Services. And he has been with U.S

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