U.S. Bancorp

USB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Slightly Increasing U.S. Bancorp's Fair Value Estimate to $53.90 in the Wake of Second-Quarter 2025

Maoyuan Chen

Jul 23, 2025

Business Strategy and Outlook

U.S. Bancorp is the largest non-global systemically important bank in the US and has been one of the most profitable regional banks we cover. Few domestic peers can match its operating efficiency and returns over the past 15 years. If we were to have a complaint, it would be that the bank has had a hard time maintaining the lead while some peers seem to be gradually catching up.

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U.S. Bancorp

Slightly Increasing U.S. Bancorp's Fair Value Estimate to $53.90 in the Wake of Second-Quarter 2025

Business Strategy and Outlook

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