In a move to strengthen its Environmental, Social and Governance (ESG) strategy, U.S. Bank announced on Wednesday the appointment of Ariel Meyerstein as the head of its ESG Program Office. With an extensive background in international law, global policy, ESG, and sustainable finance, Meyerstein's role will encompass ESG strategy development, program management, stakeholder engagement, and reporting to drive sustainable business growth.
U.S. Bank, a prominent player in the Banks industry according to InvestingPro Tips, has been seeing a positive revenue growth, which has been accelerating. The bank's revenue for the last twelve months (LTM2023.Q2) was 24.05B USD, with a quarterly revenue growth of 11.42% for FY2023.Q2, as per InvestingPro data.
Prior to joining U.S. Bank, Meyerstein held key roles at Citigroup (NYSE:C) where he led the "Action for Racial Equity" initiative and contributed significantly to the development of Citigroup's net zero framework. His professional journey also includes a tenure as vice president at the United States Council for International Business and legal positions at the U.S. Court of Appeals for the 9th Circuit and Iran-United States Claims Tribunal.
According to Reba Dominski, senior executive vice president at U.S. Bank, Meyerstein's experience in community finance policy is expected to be instrumental in the bank's efforts towards inclusive growth. The appointment underscores U.S. Bank's commitment to integrating ESG principles into its core business strategy and operations.
InvestingPro Tips also highlight that U.S. Bank has a high earnings quality, with free cash flow exceeding net income and has maintained dividend payments for an impressive 53 consecutive years. This aligns with the bank's dividend yield of 6.13% for Y2023.D277, as indicated by InvestingPro data. The bank's commitment to shareholder returns is evident in its dividend growth of 4.35% for LTM2023.Q2.
Despite its declining trend in earnings per share, U.S. Bank has a P/E ratio of 8.71 and an adjusted P/E ratio of 8.77 for LTM2023.Q2, indicating its potential as a value investment. The bank's commitment to ESG principles, coupled with its strong financial performance and shareholder return strategy, positions it as a notable player in the industry. For more insights like these, consider exploring the additional tips provided by InvestingPro.
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