Tiger Brokers

BUZZ-Street View: US Bancorp is hitting its stride

Reuters
Jan 17, 2025

** U.S. Bancorp reported a rise in fourth-quarter profit on Thursday, driven by higher trust and investment management fees.

** Median PT of 24 brokerages covering the lender is $57 - data compiled by LSEG

BETTER TIMES AHEAD?

** Morgan Stanley ("overweight," PT: $59) says focus on tech-led initiatives would be key and expects USB to outperform as rates decline, due to increasing deposit betas and expanding operating leverage

** BofA Global Research ("buy," PO: $57) expects better capital returns with resumption of share buybacks and says that the net interest income/margin trajectory looks positive

** Piper Sandler ("overweight," PT: $55) says the market clearly remains in a “show me” mode with USB, but the lender is turning a corner

** Stephens ("equal-weight," PT: $58) says the “interconnectedness” at USB can drive profits and reduce headwinds in payment services

(Reporting by Akriti Shah)

((akriti.shah@thomsonreuters.com))

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