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U.S. Bancorp (USB) Enhances Global Fund Services Offerings
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U.S. Bancorp (USB - Free Report) has opened doors of its Luxembourg office, through which it will offer fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds.
The office will be under the leadership of Didier Delvaux, who has more than 25 years of fund administration and custody experience. He joined the company last year as Luxembourg country head.
U.S. Bank Global Fund Services offers alternative investments, mutual funds and exchange-traded products. This unit, along with U.S. Bank’s corporate trust and custody teams, makes up the Investment Services division, which in total, holds more than $7.7 trillion in assets under custody and administration.
The company seeks to satisfy clients by providing customizable service offerings, state-of-the-art digital tools and exemplary client service.
"Clients are looking for expertise they can trust; they want a provider with a deep understanding of the industry, investments and their goals. Given the complexity and volatility of the current regulatory and market environment, it’s essential for clients to find a provider who is intimately familiar with local regulatory nuances.” said Delvaux.
He also added, "Our initial focus will be on private equity and private debt funds, where our capabilities are unparalleled in the market. We are making a long-term commitment to the Luxembourg market, as demonstrated by our brand-new office in the Kirchberg financial center."
Our Take
We believe U.S. Bancorp, with its solid business model, is well poised for growth. Also, the company remains focused on improving its overall performance by undertaking inorganic growth strategies. Efforts to be in line with the banking sector’s shift to digitization are impressive.
Shares of U.S. Bancorp have gained 34.4% compared with the industry’s growth of 19.2% over the past six months.
Some better-ranked stocks in the finance space are Fifth Third Bancorp (FITB - Free Report) , First Financial Bankshares, Inc. (FFIN - Free Report) and Guaranty Bancshares Inc. (GNTY - Free Report) . All these stocks flaunt a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Fifth Third has been raised 16.6% for the current year in the past 30 days. The company’s share price has gained 46.9% in the past six months.
First Financial has witnessed 3% upward revision in earnings estimates for current year in the past 30 days. Its share price has risen 23.7% in the past six months.
Guaranty’s shares have gained 17.8% in six months’ time. Its earnings estimates for current year have moved up 8.5% in the past 30 days.
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U.S. Bancorp (USB) Enhances Global Fund Services Offerings
U.S. Bancorp (USB - Free Report) has opened doors of its Luxembourg office, through which it will offer fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds.
The office will be under the leadership of Didier Delvaux, who has more than 25 years of fund administration and custody experience. He joined the company last year as Luxembourg country head.
U.S. Bank Global Fund Services offers alternative investments, mutual funds and exchange-traded products. This unit, along with U.S. Bank’s corporate trust and custody teams, makes up the Investment Services division, which in total, holds more than $7.7 trillion in assets under custody and administration.
The company seeks to satisfy clients by providing customizable service offerings, state-of-the-art digital tools and exemplary client service.
"Clients are looking for expertise they can trust; they want a provider with a deep understanding of the industry, investments and their goals. Given the complexity and volatility of the current regulatory and market environment, it’s essential for clients to find a provider who is intimately familiar with local regulatory nuances.” said Delvaux.
He also added, "Our initial focus will be on private equity and private debt funds, where our capabilities are unparalleled in the market. We are making a long-term commitment to the Luxembourg market, as demonstrated by our brand-new office in the Kirchberg financial center."
Our Take
We believe U.S. Bancorp, with its solid business model, is well poised for growth. Also, the company remains focused on improving its overall performance by undertaking inorganic growth strategies. Efforts to be in line with the banking sector’s shift to digitization are impressive.
Shares of U.S. Bancorp have gained 34.4% compared with the industry’s growth of 19.2% over the past six months.
Currently, U.S. Bancorp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Picks
Some better-ranked stocks in the finance space are Fifth Third Bancorp (FITB - Free Report) , First Financial Bankshares, Inc. (FFIN - Free Report) and Guaranty Bancshares Inc. (GNTY - Free Report) . All these stocks flaunt a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Fifth Third has been raised 16.6% for the current year in the past 30 days. The company’s share price has gained 46.9% in the past six months.
First Financial has witnessed 3% upward revision in earnings estimates for current year in the past 30 days. Its share price has risen 23.7% in the past six months.
Guaranty’s shares have gained 17.8% in six months’ time. Its earnings estimates for current year have moved up 8.5% in the past 30 days.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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