US Bancorp (USB)
NYSE:USB
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US Bancorp
(NYSE:USB)
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Rating:74Outperform
Price Target:
$63.00
â–²(10.66% Upside)
Action:ReiteratedDate:04/24/26
USB scores well overall driven by strong technical uptrend signals and attractive valuation (low P/E and solid dividend yield), reinforced by constructive guidance and positive operating leverage in the latest earnings call. The main constraint on the score is financial quality consistency—particularly choppy free cash flow trends and data red flags in cash-flow coverage fields—along with typical bank leverage sensitivity and ongoing NIM/deposit-competition and regulatory-capital timing risks.
Positive Factors
Strategic partnerships & M&A
Confirmed strategic deals (BTIG, Amazon small‑business card, NFL co‑brand) create durable, recurring fee and loan streams that diversify revenue beyond net interest income. These initiatives materially expand payments, capital‑markets and small‑business franchises, reducing earnings sensitivity to rate cycles and supporting multi‑quarter revenue growth.
Negative Factors
Regulatory/capital timing risk
Proximity to regulatory Category II thresholds and AOCI‑related CET1 drag create timing uncertainty for capital planning. Pending Basel/ERBA relief is uncertain in timing and scope; until clarity arrives management may need to retain capital or limit distributions, constraining shareholder returns and capital deployment options in the near term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic partnerships & M&A
Confirmed strategic deals (BTIG, Amazon small‑business card, NFL co‑brand) create durable, recurring fee and loan streams that diversify revenue beyond net interest income. These initiatives materially expand payments, capital‑markets and small‑business franchises, reducing earnings sensitivity to rate cycles and supporting multi‑quarter revenue growth.
Read all positive factors
US Bancorp (USB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$86.27B
Dividend Yield3.77%
Average Volume (3M)10.29M
Price to Earnings (P/E)10.4
Beta (1Y)1.10
Revenue Growth3.87%
EPS Growth18.20%
CountryUS
Employees70,000
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.18
Shares Outstanding1,552,252,200
10 Day Avg. Volume9,942,210
30 Day Avg. Volume10,289,701
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 Cap1.37
Enterprise Value/Revenue2.76
Enterprise Value/Gross Profit4.39
Enterprise Value/Ebitda11.49
Forecast
1Y Price Target
$62.00Price Target Upside8.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)5.09
Revenue Forecast (FY)$30.43B
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
U.S. Bancorp generates revenue primarily through a mix of net interest income and noninterest income. Net interest income is earned by taking in customer deposits and other funding sources and deploying those funds into interest-earning assets suc...
US Bancorp Earnings Call Summary
Earnings Call Date:Apr 16, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Positive
The call conveyed solid operational momentum: double-digit EPS growth, mid-single-digit net revenue growth, robust fee income (notably capital markets), sustained positive operating leverage and strong credit metrics. Management highlighted strategic growth drivers (BTIG, Amazon, NFL partnerships), record consumer deposits and improving returns metrics while providing constructive guidance. Key headwinds include flat NIM this quarter, deposit-market competitiveness, near-term expense ramp for investments, regulatory/capital timing uncertainty tied to Category II/AOCI and execution/timing risks on strategic deals. Overall, the positives—revenue diversification, cost discipline, credit stability and visible growth initiatives—outweigh the manageable near-term and timing risks.Positive Updates
Earnings and Revenue Growth
Diluted EPS of $1.18, up ~15% year-over-year; total net revenue $7.3B, up 4.7% year-over-year.
Negative Updates
Net Interest Margin and Margin Headwinds
Net interest margin flat sequentially at 2.77%; NIM pressured by elevated mortgage prepayments, somewhat tighter credit spreads and some new loans at tighter spreads. NII growth modest at 4.1% YoY despite loan growth, and margin remains sensitive to interest-rate path uncertainty.
Read all updates
Q1-2026 Updates
Positive
Negative
Earnings and Revenue Growth
Diluted EPS of $1.18, up ~15% year-over-year; total net revenue $7.3B, up 4.7% year-over-year.
Read all positive updates
Company Guidance
U.S. Bancorp gave Q2 and full‑year 2026 guidance: for Q2 2026 it expects net interest income (fully taxable‑equivalent) to grow 6–7% year‑over‑year, total fee revenue to grow 6–7% y/y, and total noninterest expense to grow 3–4% y/y; for full‑year 2026 it reiterated prior guidance for total net revenue growth of 4–6% y/y and at least 200 basis points of positive operating leverage, noting the guidance excludes the pending BTIG acquisition (expected to contribute roughly $200 million of fee revenue per quarter upon an anticipated back‑half‑Q2 close) and does fully contemplate the Amazon small‑business card and NFL partnerships (Q1 results that beat prior guidance included EPS $1.18 and $7.3 billion of net revenue).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
56.93
Price Trends
54.28
Positive
53.61
Positive
49.79
Positive
Market Momentum
0.99
Negative
65.65
Neutral
82.95
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 56.93 is above the 20-day moving average (MA) of 53.50, above the 50-day MA of 54.28, and above the 200-day MA of 49.79, indicating a bullish trend. The MACD of 0.99 indicates Negative momentum. The RSI at 65.65 is Neutral, neither overbought nor oversold. The STOCH value of 82.95 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $86.27B | 10.39 | 12.22% | 3.77% | 3.87% | 18.20% | |
74 Outperform | $23.72B | 10.08 | 11.78% | 3.74% | 2.92% | 16.52% | |
72 Outperform | $32.02B | 12.71 | 10.25% | 2.76% | -0.24% | 19.76% | |
71 Outperform | $44.97B | 58.08 | 8.86% | 3.14% | 7.66% | -5.41% | |
71 Outperform | $88.69B | 12.15 | 11.98% | 3.11% | 3.51% | 21.52% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $63.37B | 9.69 | 8.51% | 4.12% | 26.83% | 19.23% |
* Financial Sector Average
USB
US Bancorp
55.97
17.12
44.06%
TFC
Truist Financial
51.23
14.25
38.54%
FITB
Fifth Third Bancorp
50.33
15.42
44.18%
MTB
M&T Bank
217.92
52.99
32.13%
PNC
PNC Financial
221.33
65.96
42.45%
RF
Regions Financial
28.26
8.57
43.55%
US Bancorp Corporate Events
Executive/Board ChangesShareholder Meetings
U.S. Bancorp Shareholders Reaffirm Board, Pay and Auditor
Positive
Apr 23, 2026
At its annual meeting of shareholders held on April 21, 2026, U.S. Bancorp investors elected all twelve nominated directors to one-year terms ending at the 2027 annual meeting, reaffirming the current board composition and leadership structure. Th...
Business Operations and StrategyFinancial Disclosures
U.S. Bancorp Delivers Strong First-Quarter 2026 Earnings
Positive
Apr 16, 2026
U.S. Bancorp reported first-quarter 2026 results showing net revenue of $7.29 billion, net income of $1.95 billion and diluted EPS of $1.18, up 15% year over year, driven by 4.1% growth in net interest income and 6.9% growth in fee revenue. The ba...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
U.S. Bancorp Updates Financial Reporting and Segment Presentation
Positive
Apr 8, 2026
Effective January 1, 2026, U.S. Bancorp reclassified several revenue lines and loan portfolios in its Consolidated Statement of Income and Balance Sheet to better align reporting with how it manages its businesses, without changing previously repo...
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&...
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.