Forget about JPMorgan Chase’s Jamie Dimon. Wall Street has a new golden boy: US Bancorp’s Richard Davis.
“He’s become very , very well-respected on Wall Street,” said bank analyst Scott Siefers of Sandler O’Neill.
“A lot of regular Americans know who Jamie Dimon is, but unless you look at regional banks, the public at large probably doesn’t know Richard Davis. But they should,” said Siefers.
At a harrowing time for financial firms, when most banks find themselves battered and bloodied due to a raft of new regulatory changes under Dodd-Frank and an economy on the brink of a second recession, Davis’ bank is separating itself from the pack.
Indeed, net income in the second quarter for the Minneapolis-based bank was up 57 percent to $1.2 billion, compared to $766 million in the same period a year ago.
And so far the bank, which is the fifth largest in the nation, is No. 1 in terms of performance, or return on equity -- one measure of performance.
US Bancorp’s ROE over the past five years is 17.08 percent...
Find out more at http://www.nypost.com/p/news/business/small_bank_giant_VSJyWihVurt0nyScPwSarJ
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