MINNEAPOLIS - Philip G. Heasley insists the market is missing the point about U.S. Bancorp.

The recently appointed president and chief operating officer of the $79.5 billion-asset banking company argues that investors - who fled the stock on last week's news that fourth-quarter earnings would fall shy of expectations - are being short-sighted. What they should focus on, he said, is the company's ongoing shift away from traditional banking to a strategy that could pay off big-time in the not-too-distant future.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.