U.S. Bancorp (NYSE:USB) is aggressively tackling expenses and growing non traditional bank revenues, according to a recent research report from Dick Bove of Rafferty Capital Markets. And what the bank is doing could “stimulate a bank war in the Midwest,” he said. “It may also lower returns in the near term eve though it is exactly the right strategy.” Two pronged attempt to improve stock performance Bove noted an aggressive cost cutting program being undertaken at the bank but, “the move to aggressively cut expenses is being driven, in my view, because the bank is having a great deal of difficulty…
USB: Stimulating A Bank War In The Midwest?
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.