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U.S. Bancorp USB

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Stock XNYS Rating as of
$39.44 −0.08 (0.20%)
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As of Delayed Price Closed
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Company Report

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U.S. Bancorp Earnings: Company Lowers 2024 Guidance for Both Net Interest Income and Expense

Michael Wong

Along with first-quarter results, U.S. Bancorp lowered both its 2024 net interest income and expense guidance, but this doesn’t change our long-term outlook for the wide-moat company, so we are maintaining our $53 fair value estimate and assess that shares are undervalued. The company reported net income to common shareholders of $1.2 billion, or $0.78 per diluted share, on $6.7 billion of net revenue. Excluding notable items such as $155 million of integration costs and an additional $110 million FDIC special assessment charge, diluted earnings per share would have been $0.90.

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Price vs Fair Value

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USB is trading at a 25% discount.
Price
$39.52
Fair Value
$78.00
Uncertainty
Medium
1-Star Price
$95.87
5-Star Price
$44.40
Economic Moat
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Capital Allocation
Qzlbyzvrl

Bulls Say, Bears Say

Bulls

Strong fee revenue in moaty businesses, such as payments, helps insulate U.S. Bancorp from a flatter yield curve environment and drives higher returns on equity.

Bears

Every time interest rates go higher, it pressures banks more and more. If rates go higher than expected, it could drive more unrealized losses and put additional pressure on bank earnings.

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News

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Trading Information

Previous Close Price
$39.52
Day Range
$39.19–40.15
52-Week Range
$27.27–45.85
Bid/Ask
$39.00 / $40.67
Market Cap
$61.53 Bil
Volume/Avg
9.9 Mil / 8.7 Mil

Key Statistics

Price/Earnings (Normalized)
9.12
Price/Sales
2.22
Dividend Yield (Trailing)
4.92%
Dividend Yield (Forward)
4.97%
Total Yield
4.92%

Company Profile

As a diversified financial-services provider, U.S. Bancorp is one of the nation's largest regional banks, with branches in roughly 26 states, primarily in the Western and Midwestern United States. The bank offers many services, including retail banking, commercial banking, trust and wealth services, credit cards, mortgages, and other payments capabilities.
Sector
Financial Services
Industry
Banks - Regional
Stock Style Box
Large Value
Total Number of Employees
75,465
Website
https://www.usbank.com

Competitors

Valuation

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Metric
USB
WFC
BAC
Price/Earnings (Normalized)
 9.1211.3811.56
Price/Book Value
 1.261.271.06
Price/Sales
 2.222.602.93
Price/Cash Flow
 7.206.236.84
Price/Earnings
USB
WFC
BAC

Financial Strength

Metric
USB
WFC
BAC
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 ———
Quick Ratio
No chart available

Profitability

Metric
USB
WFC
BAC
Return on Assets (Normalized)
 0.99%1.04%0.99%
Return on Equity (Normalized)
 14.38%12.17%12.26%
Return on Invested Capital (Normalized)
 ———
Return on Assets
USB
WFC
BAC
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Banks - Regional Industry Comparables

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Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
BNPQY
BNP Paribas ADRCsrxnlyxnQhmy$79.4 Bil
ISNPY
Intesa Sanpaolo ADRDzftywhrhmLwrp$64.0 Bil
PNC
PNC Financial Services Group IncBbfrvmpnjHswyrn$58.9 Bil
ITUB
Itau Unibanco Holding SA ADRTscqrqcmxXqbkl$54.8 Bil
MFG
Mizuho Financial Group Inc ADRZzxdmgqlMrqf$48.8 Bil
TFC
Truist Financial CorpQsxkftfGyzdj$47.7 Bil
LYG
Lloyds Banking Group PLC ADRQzdsgjyhDxfslby$39.7 Bil
DB
Deutsche Bank AGZjgcGnfx$31.5 Bil
NWG
NatWest Group PLC ADRHgfsLfbd$29.5 Bil

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