Why U.S. Bancorp Stock Was Down Today

U.S. Bancorp (NYSE: USB) saw its stock price fall 4.7% today, as of 2:45 p.m. ET. The stock is trading at just over $35 per share and is down roughly 19% year to date (YTD).

The markets were mixed on Friday as the S 500 index was up 5 points (0.1%), the Dow Jones Industrial Average fell 47 points (-0.1%), and the Nasdaq Composite gained 42 points (0.3%) as of 2:45 p.m. ET.

U.S. Bancorp, the holding company for U.S. Bank, presented at the Barclays Global Financial Services Conference in New York City on Wednesday, and that appeared to be the catalyst for today's move. In the presentation, President and CEO Andy Cecere and CFO John Stern offered guidance that disappointed investors.

Source Fool.com