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Sydnee Gatewood
Sydnee Gatewood
Articles (2605) 

Mairs and Power Growth Fund Comments on U.S. Bancorp

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July 30, 2020 | About:
The largest detractor to relative performance in the fund in the first half was U.S. Bancorp (NYSE:USB). The combination of lower interest rates and credit concerns has hit the banking industry hard this year. But we believe U.S. Bank continues to have one of the best underwritten loan portfolios, and that it will emerge from the economic downturn in a better position than the vast majority of its competitors. We have taken advantage of the stock’s weakness to add to our position.

From Mairs and Power (Trades, Portfolio)'s Growth Fund second-quarter 2020 shareholder letter.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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