MINNEAPOLIS - U.S. Bancorp (NYSE: USB), the parent company of U.S. Bank, has announced the promotion of Adam Graves to senior executive vice president and head of enterprise strategy and administration. The bank, currently valued at $60.14 billion in market capitalization, has maintained a FAIR financial health rating according to InvestingPro analysis. Graves, who has been with the company since 2023 as head of strategy and corporate development, will expand his responsibilities to include corporate real estate and procurement, marketing, analytics and customer experience, public affairs and communications, as well as strategy and administration risk.
Graves has a notable background in finance, having spent five years as head of finance strategy and corporate development at U.S. Bancorp, and a significant part of his early career in the investment banking division of Goldman Sachs. His education includes a degree from the University of Michigan.
U.S. Bank president and CEO Gunjan Kedia praised Graves for his leadership qualities, stating he is "well suited to lead our strategy and administration team to new heights," and expressing confidence in his capability to drive growth and build the company’s brand and reputation.
In his new role, Graves will report directly to Kedia and join the managing committee, a team of senior executives responsible for leading the company’s revenue lines and corporate functions.
U.S. Bancorp, headquartered in Minneapolis, is a financial services holding company with approximately 70,000 employees and $676 billion in assets as of March 31, 2025. The company offers an attractive dividend yield of 5.29% and has maintained dividend payments for 55 consecutive years, demonstrating strong financial stability. According to InvestingPro data, the bank trades at a P/E ratio of 10.16, suggesting a potentially undervalued position relative to its peers. The company operates a range of banking and wealth management services and has been acknowledged for its digital innovation, community partnerships, and customer service, including being listed as one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks.
This leadership change reflects U.S. Bancorp’s commitment to strategic growth and effective administration. The information regarding Adam Graves’ promotion is based on a press release statement from U.S. Bancorp.
In other recent news, U.S. Bancorp has seen several adjustments to its stock price targets and ratings from prominent financial firms following its recent quarterly performance. DA Davidson cut the bank’s price target to $49 while maintaining a Buy rating, noting U.S. Bancorp’s strategic focus under new CEO Gunjan Kedia to improve profitability and operating leverage by 2025. Keefe, Bruyette & Woods also lowered their price target to $49, retaining a Market Perform rating, citing solid performance in the recent quarter but expressing caution about future revenue growth, particularly in the payments sector.
Wells Fargo reduced its price target to $50 but kept an Overweight rating, highlighting improved credit conditions and operational leverage, though net interest income and expenses did not meet expectations. JPMorgan maintained an Underweight rating with a $43.50 target, pointing out challenges such as fluctuations in income and amortization expenses, while acknowledging the bank’s effective management in capital markets fees. Raymond James adjusted its target to $51, reaffirming an Outperform rating and praising U.S. Bancorp’s ability to maintain positive operating leverage despite economic uncertainties.
These recent developments reflect a cautious yet optimistic outlook from analysts, with emphasis on U.S. Bancorp’s strategic initiatives and financial management under current economic conditions.
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