- Total average deposits reached $526.60 billion, in line with the estimated $525.22 billion.
- Total average loans were below expectations, totaling $409.55 billion compared to the estimate of $412.16 billion.
- Cash and due from banks amounted to $49.52 billion, which fell short of the expected $58.73 billion.
- Earnings per share (EPS) were $1.34, slightly above the estimate of $1.32.
- Provision for credit losses was $654 million, lower than the anticipated $737.2 million.
- Net charge-offs totaled $523 million, below the expected $567.2 million.
- Net interest income FTE was $4.49 billion, close to the estimate of $4.5 billion.
- Net interest margin improved to 2.84%, above the estimated 2.81%.
- Net revenue reached $7.97 billion, slightly below the forecast of $8.01 billion.
- Non-interest income was $3.48 billion, missing the expected $3.51 billion.
- The Basel III common equity Tier 1 ratio remained steady at 10.8%, meeting estimates.
- The efficiency ratio stood at 55.9%, better than the expected 56.5%.
- Return on average assets increased to 1.25% from last year’s 1.17%, surpassing the estimate of 1.19%.
- Return on average equity improved to 13.6%, above the estimated 13.2%.
- Non-interest expenses were $4.49 billion, lower than the anticipated $4.55 billion.
- The effective tax rate was 21.2%, slightly higher than the estimated 20.7%.
- Analyst recommendations included 16 buys, 9 holds, and 1 sell.
A look at US Bancorp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, US Bancorp emerges as a strong player in the financial services sector with consistently high ratings across multiple key factors. With solid scores in Value, Dividend, Growth, Resilience, and Momentum, US Bancorp is positioned well for long-term success. These scores suggest that the company is perceived positively in terms of its value proposition, dividend payouts, growth potential, ability to weather economic downturns, and prevailing market momentum.
U.S. Bancorp, a diversified financial services company operating primarily in the Midwest and Western United States, offers a comprehensive range of services including lending, depository services, cash management, foreign exchange, and investment management. Additionally, the company provides credit card services, mortgage banking, insurance, brokerage, and leasing. With its strong showing in various Smartkarma Smart Scores, US Bancorp appears to have a promising long-term outlook in the competitive financial industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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