US Bancorp (USB)
NYSE:USB
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US Bancorp
(NYSE:USB)
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Rating:65Neutral
Price Target:
$56.00
▲(5.76% Upside)
Action:ReiteratedDate:03/10/26
The score is driven by improving profitability and constructive forward guidance (revenue growth and operating leverage), plus supportive valuation (low P/E and solid dividend yield). These positives are tempered by weak technical momentum (bearish/oversold signals) and less consistent cash-flow quality, which keep the overall score in the mid-range.
Positive Factors
Improving profitability and margins
U.S. Bancorp’s 2025 results show materially stronger earnings power — net income around $7.6B and a rebound in net margin to ~17.7%. Durable margin recovery supports long‑term earnings resilience, funding for capital returns and investments, and underpins sustained ROE above typical regional peers.
Negative Factors
Regulatory/tailoring uncertainty near $700B threshold
With assets near the ~$700B threshold, potential reclassification or tailored supervision could impose higher capital, liquidity or compliance demands. This structural regulatory risk may raise ongoing costs, constrain capital returns and limit strategic flexibility if supervisory expectations tighten over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability and margins
U.S. Bancorp’s 2025 results show materially stronger earnings power — net income around $7.6B and a rebound in net margin to ~17.7%. Durable margin recovery supports long‑term earnings resilience, funding for capital returns and investments, and underpins sustained ROE above typical regional peers.
Read all positive factors
US Bancorp (USB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$82.27B
Dividend Yield3.77%
Average Volume (3M)10.66M
Price to Earnings (P/E)11.0
Beta (1Y)1.12
Revenue Growth2.91%
EPS Growth33.77%
CountryUS
Employees70,000
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.26
Shares Outstanding1,553,695,800
10 Day Avg. Volume11,379,057
30 Day Avg. Volume10,664,101
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)1.27
Price to Sales (P/S)1.94
P/FCF Ratio10.41
Enterprise Value/Market Cap1.39
Enterprise Value/Revenue2.66
Enterprise Value/Gross Profit4.24
Enterprise Value/Ebitda11.08
Forecast
1Y Price Target
$61.94Price Target Upside16.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering18
EPS Forecast (FY)5.06
Revenue Forecast (FY)$30.39B
US Bancorp Business Overview & Revenue Model
Company Description
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate ...
How the Company Makes Money
US Bancorp generates revenue through multiple key streams, primarily from net interest income and non-interest income. Net interest income is derived from the difference between the interest earned on loans and the interest paid on deposits. The b...
US Bancorp Earnings Call Summary
Earnings Call Date:Jan 20, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 16, 2026
Earnings Call Sentiment Positive
The call conveyed a strong operational and financial performance with multiple key wins: record revenues, double-digit adjusted EPS growth, improving NII and NIM trends, robust fee income, better asset quality, and clear forward guidance for revenue growth and positive operating leverage. Management also articulated concrete strategic initiatives (BTIG acquisition, payments transformation, GFS expansion) and the capacity to balance investments with productivity. Principal risks highlighted were near-term merger costs, regulatory/tailoring uncertainty (possible Category Two implications), policy risks around credit card rate caps, and some segment-level variability (corporate payments). On balance, the positive financial trajectory and actionable guidance outweigh the identified near-term and regulatory risks.Positive Updates
Strong EPS and Revenue
Diluted earnings per common share of $1.26 in Q4 (adjusted), up ~18% year-over-year; record net revenue of $7.4 billion in Q4 and record full-year net revenue of $28.7 billion; Q4 total net revenue growth of 5.1%.
Negative Updates
Near-Term Merger Costs and Capital Impact from BTIG
Management expects merger-related costs in the next quarters that will offset near-term PPNR benefits (EPS effectively neutral near term); BTIG will reduce CET1 by ~12 basis points and merger costs could temporarily mute earnings and buyback capacity.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong EPS and Revenue
Diluted earnings per common share of $1.26 in Q4 (adjusted), up ~18% year-over-year; record net revenue of $7.4 billion in Q4 and record full-year net revenue of $28.7 billion; Q4 total net revenue growth of 5.1%.
Read all positive updates
Company Guidance
U.S. Bancorp guided to full‑year 2026 total net revenue growth of 4–6% and at least 200 basis points of positive operating leverage (guidance excludes BTIG, which is expected to add $175–$200 million of fee revenue per quarter); for Q1 2026 it expects net interest income (FTE) growth of 3–4% vs. 2025, total fee revenue growth of 5–6% vs. 2025, and total noninterest expense growth of roughly 1% vs. 2025. Management said mid‑single‑digit growth is a reasonable expectation for both NII and fees over the year, sees loan growth around 3–4% led by commercial and card, plans to increase buybacks from about $100 million to $200 million this quarter on a glide to a ~75% payout target, and reiterated a path for NIM expansion (Q4 NIM 2.77%) toward ~3% by 2027; BTIG will have an approximate 12‑bp CET1 impact and near‑term merger costs that will offset PPNR until integration.US Bancorp Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 42.86B | 42.71B | 40.62B | 27.40B | 23.71B |
| Gross Profit | 26.93B | 25.10B | 25.74B | 22.21B | 23.89B |
| EBITDA | 10.29B | 8.85B | 7.88B | 7.86B | 10.66B |
| Net Income | 7.58B | 6.30B | 5.43B | 5.83B | 7.96B |
Balance Sheet | |||||
| Total Assets | 692.35B | 678.32B | 663.49B | 674.80B | 573.28B |
| Cash, Cash Equivalents and Short-Term Investments | 137.73B | 142.87B | 130.56B | 125.59B | 161.31B |
| Total Debt | 77.93B | 73.52B | 66.76B | 71.05B | 43.92B |
| Total Liabilities | 626.69B | 619.28B | 607.72B | 623.57B | 517.90B |
| Stockholders Equity | 65.19B | 58.58B | 55.31B | 50.77B | 54.92B |
Cash Flow | |||||
| Free Cash Flow | 7.97B | 11.27B | 8.45B | 21.12B | 9.87B |
| Operating Cash Flow | 7.97B | 11.27B | 8.45B | 21.12B | 9.87B |
| Investing Cash Flow | -20.54B | -24.53B | 18.93B | 7.50B | -57.49B |
| Financing Cash Flow | 2.25B | 8.57B | -19.72B | -3.98B | 13.94B |
US Bancorp Technical Analysis
Positive
52.95
Price Trends
54.40
Negative
52.66
Positive
49.15
Positive
Market Momentum
-0.58
Negative
54.29
Neutral
82.57
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For USB, the sentiment is Positive. The current price of 52.95 is above the 20-day moving average (MA) of 51.27, below the 50-day MA of 54.40, and above the 200-day MA of 49.15, indicating a neutral trend. The MACD of -0.58 indicates Negative momentum. The RSI at 54.29 is Neutral, neither overbought nor oversold. The STOCH value of 82.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for USB.
US Bancorp Risk Analysis
US Bancorp disclosed 33 risk factors in its most recent earnings report. US Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
US Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $85.39B | 10.18 | 11.88% | 3.11% | 1.79% | 30.93% | |
72 Outperform | $22.86B | 11.00 | 11.45% | 3.74% | 4.00% | 28.54% | |
69 Neutral | $31.31B | 11.54 | 9.88% | 2.76% | -0.81% | 20.34% | |
68 Neutral | $42.48B | 12.33 | 11.96% | 3.14% | 0.15% | 11.62% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $82.27B | 10.95 | 12.12% | 3.77% | 2.91% | 33.77% | |
62 Neutral | $58.91B | 11.75 | 8.15% | 4.12% | 22.02% | ― |
* Financial Sector Average
USB
US Bancorp
52.95
17.65
49.99%
TFC
Truist Financial
47.16
13.63
40.67%
FITB
Fifth Third Bancorp
47.11
14.22
43.24%
MTB
M&T Bank
210.16
57.13
37.33%
PNC
PNC Financial
211.70
64.26
43.59%
RF
Regions Financial
26.47
8.55
47.71%
US Bancorp Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
U.S. Bancorp Launches New Medium-Term Note Program
Positive
Mar 9, 2026
On March 9, 2026, U.S. Bancorp established a new medium-term note program that allows it to issue Series EE senior notes and Series FF subordinated notes under existing indentures with Citibank, N.A. as trustee. The notes are registered with the S...
Business Operations and StrategyExecutive/Board Changes
US Bancorp Adopts Updated Executive Change in Control Plan
Neutral
Jan 29, 2026
On January 27, 2026, U.S. Bancorp’s board, acting on a recommendation from its Compensation and Human Resources Committee, adopted a new Executive Change in Control Severance Plan to update the company’s change-in-control benefits and ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
U.S. Bancorp announces chairman transition and leadership change
Neutral
Jan 28, 2026
On January 27–28, 2026, U.S. Bancorp announced a leadership transition in its Board of Directors, with long-time executive and current chairman Andy Cecere notifying the board that he will retire and not stand for re-election at the company&...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
US Bancorp Posts Record Q4 Results, Plans BTIG Acquisition
Positive
Jan 20, 2026
U.S. Bancorp reported record net revenue of $7.37 billion for the fourth quarter of 2025 and $28.66 billion for the full year, with quarterly net income rising 23% year over year to $2.05 billion and full-year net income reaching $7.57 billion. Fo...
Business Operations and StrategyM&A Transactions
U.S. Bancorp to Acquire BTIG in $1 Billion Deal
Positive
Jan 13, 2026
On January 12, 2026, U.S. Bancorp signed a definitive agreement to acquire BTIG Parent and its subsidiaries, including BTIG, LLC, in a transaction that values the business at up to $1 billion and is expected to close in the second quarter of 2026,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.