Evercore analyst John Pancari maintains $U.S. Bancorp (USB.US)$ with a hold rating, and maintains the target price at $51.
According to TipRanks data, the analyst has a success rate of 44.6% and a total average return of -4.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $U.S. Bancorp (USB.US)$'s main analysts recently are as follows:
Concerns over the possibility of U.S. Bancorp engaging in mergers and acquisitions contributed to a downturn in the stock following last month's investor day. However, during the earnings call for Q3, management downplayed their interest in M&A activities, emphasizing that it is not a focal point. Following the third-quarter earnings surpassing expectations, forecasts for the fourth quarter and full-year earnings per share have been adjusted upward.
Following the Q3 report, U.S. Bancorp's earnings outperformed as their net interest income surpassed the forecasted guidance and a provision lower than anticipated contributed positively, according to an analyst.
U.S. Bancorp's third-quarter earnings exceeded expectations. The company reported a core pre-provision net revenue of $2.8 billion, slightly surpassing consensus forecasts due to a 2% rise in net interest income and consistent core expenses, although this was somewhat balanced by a 2% dip in fee income. Furthermore, the management's updated net interest income outlook for FY24, which is now at the upper limit of the previous range of $16.1 billion to $16.4 billion, is considered a positive sign in light of market predictions of additional interest rate reductions by year-end and subdued loan growth.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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