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MarketScreener Homepage  >  Equities  >  Nyse  >  US Bancorp    USB

US BANCORP

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U S Bancorp : Under Investigation Over FHA Insurance

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05/07/2014 | 04:52pm EDT
By Andrew R. Johnson 

U.S. Bancorp said Wednesday that federal authorities are investigating the bank's compliance with insurance-program requirements for loans insured by the Federal Housing Administration.

The Minneapolis-based bank said in a regulatory filing that the U.S. Department of Justice and U.S. Department of Housing and Urban Development's Office of the Inspector General are investigating the bank.

The bank has previously disclosed in regulatory filings that it faced investigations and examinations by government agencies and bank regulators regarding mortgage practices, including the origination and servicing of loans insured by the FHA.

A spokeswoman for U.S. Bancorp declined to comment.

The bank said in Wednesday's filing that it is "cooperating fully" with the examinations and investigations, which could lead to legal proceedings or settlements.

Other regional banks, including Fifth Third Bancorp, SunTrust Banks Inc. and Regions Financial Corp., have disclosed mortgage-related investigations in recent months.

Write to Andrew R. Johnson at andrewr.johnson@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
FIRST FINANCIAL CORPORATION 1.10% 43.23 Delayed Quote.6.50%
US BANCORP 2.03% 56.19 Delayed Quote.20.50%
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Financials (USD)
Sales 2019 23 017 M
EBIT 2019 10 467 M
Net income 2019 6 879 M
Debt 2019 -
Yield 2019 2,81%
P/E ratio 2019 12,9x
P/E ratio 2020 12,7x
Capi. / Sales2019 3,84x
Capi. / Sales2020 3,81x
Capitalization 88 274 M
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Technical analysis trends US BANCORP
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Mean consensus HOLD
Number of Analysts 26
Average target price 56,94  $
Last Close Price 56,19  $
Spread / Highest target 17,5%
Spread / Average Target 1,33%
Spread / Lowest Target -12,8%
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NameTitle
Andrew J. Cecere Chairman, President & Chief Executive Officer
Jeffry H. von Gillern Vice Chairman-Technology & Operations Services
Terrance R. Dolan Vice Chairman & Chief Financial Officer
Jason Witty Chief Information Security Officer & EVP
Arthur D. Collins Independent Director
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