D.A. Davidson analyst Peter Winter maintains $U.S. Bancorp (USB.US)$ with a hold rating, and adjusts the target price from $49 to $54.
According to TipRanks data, the analyst has a success rate of 49.0% and a total average return of 3.7% 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:
U.S. Bancorp's stock experienced a selloff following last month's investor day, driven by concerns over potential mergers and acquisitions (M&A). However, during the Q3 earnings call, management clarified that M&A was not a primary focus. Following the Q3 results, expectations for the company's Q4 and full-year earnings have been adjusted upward.
Following the Q3 report, it's noted that U.S. Bancorp's earnings surpassed expectations, bolstered by net interest income that outperformed guidance in addition to a provision that was lower than anticipated.
U.S. Bancorp's Q3 earnings surpassed expectations, with a core pre-provision net revenue of $2.8B slightly exceeding the consensus. This was due to net interest income surpassing estimates by 2%, balanced with fees that were 2% lower than anticipated and expenses that met predictions. Additionally, the management has subtly enhanced its FY24 net interest income outlook, now at the upper spectrum of the previous forecast range. This update is perceived as positive, especially considering the market's anticipation of further interest rate reductions by year's end and the observed stagnation in loan growth.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
