What to Expect From US Bancorp Earnings

Banking, finance, and taxes

Published: October 14, 2015 4:15 pm

Last Updated: April 28, 2020 9:58 am

This is another top regional bank that took a beating in the recent downturn, dropping over 15% at one point. U.S. Bancorp (NYSE: USB) has $419 billion in assets as of June 30, 2015, and is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The company operates 3,164 banking offices in 25 states and 5,020 ATMs, and it provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions.

The analysts at Deutsche Bank note that the bank has underperformed other, larger regional banks over concerns about lower revenue and higher expenses. They also point to the fact that U.S. Bancorp has no meaningful capital markets exposure, has among the best risk management/credit profile in the industry and generates the highest returns of its peers.

Before the company reported its third quarter results, a few analysts weighed in on it:

RBC Capital reiterated an Outperform rating with a $48 price target.
Jefferies has a Hold rating but lowered its price target to $44 from $47.
Goldman Sachs has a Neutral rating and lowered its price target to $46 from $48.
Nomura has a Buy rating but lowered its price target to $48 from $50.

So far in 2015 U.S. Bancorp has underperformed the market and the stock is down 6.2% year to date, while over the past 52-weeks the stock is up 6.4%.

Shares of U.S. Bancorp were last trading down 2.2% at $40.50, with a consensus analyst price target of $46.69 and a 52-week trading range of $38.10 to $46.26.

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