U.S. Bancorp USB reported better-than-expected first-quarter revenues on Wednesday.
The business published revenues per share of $1.03, which beat the expert agreement quote of 98 cents. The moms and dad business of U.S. Bank reported quarterly profits of $6.95 billion. It surpassed the expert agreement quote of $6.91 billion.
U.S. Bancorp’s typical overall loans increased 2.1% on a year-over-year basis and 0.9% on a connected quarter basis.
” We handled costs with discipline and provided 270 basis points of favorable operating utilize on an adjusted basis– our 3rd successive quarter of yearover-year development in profits outmatching costs,” stated U.S. Bancorp CEO Gunjan Kedia.
U.S. Bancorp shares got 1.6% to trade at $38.40 on Thursday.
These experts made modifications to their rate targets on U.S. Bancorp following revenues statement.
- Keefe, Bruyette & & Woods expert David Konrad preserved U.S. Bancorp with a Market Perform score and reduced the rate target from $54 to $49.
- Truist Securities expert John McDonald preserved the stock with a Hold score and cut the rate target from $51 to $48.
- Barclays expert Jason Goldberg preserved U.S. Bancorp with an Obese score and reduced the rate target from $61 to $56.
Thinking about purchasing USB stock? Here’s what experts believe:
Read This Next:
Image through Shutterstock
Market News and Data gave you by Benzinga APIs