US Bancorp's Q3 net revenue rises slightly less than expected after BTIG acquisition

U.S. Bancorp

15/10/2026 12:12

Overview
US banking group's Q3 net revenue grew 8.7% yr/yr, but slightly missed analyst expectations
Adjusted EPS for Q3 rose nearly 10% yr/yr
Company launched proprietary stablecoin pilot and new small-business credit cards

Outlook
Company did not provide specific financial guidance for the current quarter or full year

Result Drivers
LOAN GROWTH & CREDIT CARD PORTFOLIO - Net interest income rose due to higher loan balances and purchase of small business credit card portfolio
CAPITAL MARKETS & BTIG ACQUISITION - Noninterest income rose on higher capital markets revenue and BTIG acquisition
HIGHER EXPENSES - Noninterest expense rose due to BTIG acquisition, compensation, technology, and marketing costs

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Miss*
$7.97 bln
$8.007 bln (10 Analysts)
Q3 EPS
 
$1.34
 
Q3 Net Income
 
$2.20 bln
 
Q3 CET1 Capital Ratio
 
10.80%
 
Q3 Net Interest Income
 
$4.47 bln
 
Q3 Credit Loss Provision
 
$654 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for U.S. Bancorp is $68.00, about 20.9% above its October 14 closing price of $56.26
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 14 - US banks post solid third-quarter loan growth, but face more competition for deposits
Oct 15 - Wall St banks caught in capital markets lull after a strong first half of 2026
Oct 14 - Bond trading weakens for US banks as interest rate volatility affects investors

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Press Release https://s203.q4cdn.com/711684571/files/doc_financials/2026/q3/3Q26EarningsRelease.pdf
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)