Stephens analyst Terry McEvoy notes that U.S. Bancorp reported operating EPS that beat consensus, though there was a slight step-down in expected 2023 revenue to $28.5B-$30.5B from $29B-$31B despite its expense outlook being unchanged. The firm, which says U.S. Bancorp’s high level of profitability and lower-risk loan portfolio should drive organic capital growth in the future, keeps an Overweight rating and $47 price target on the shares.
Published first on TheFly
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- U.S. Bancorp sees FY23 revenue $28.5B – $30.5B , consensus $29.22B
- U.S. Bancorp sees Q2 revenue $7.1B – $7.3B , consensus 7.28B
- U.S. Bancorp reports Q1 EPS $1.16, consensus $1.12
- US Bancorp put volume heavy and directionally bearish
- HoldCo Asset Management says be long Wells Fargo, short U.S. Bancorp