US Bancorp Q1 net interest income rises on loan growth

US Bancorp

16/04/2026 11:56

Overview

US bank's Q1 revenue slightly beat analyst expectations, driven by higher net interest income

Diluted EPS for Q1 rose 15% yr/yr to $1.18

Net income for Q1 increased 14% yr/yr, supported by fee revenue and stable credit quality

Outlook

Company did not provide specific guidance or forecasts for the current quarter or full year in its press release

Result Drivers

NET INTEREST INCOME - Higher net interest income was driven by loan growth, improved asset mix, and fixed asset repricing

FEE REVENUE - Fee revenue increased 6.9% yr/yr, reflecting improved payments performance and continued momentum across capital markets and investment services

CREDIT QUALITY - Credit quality remained stable, with provision for credit losses rising 7.3% mainly due to loan portfolio growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$7.29 bln
$7.28 bln (12 Analysts)
Q1 EPS
$1.18
Q1 Net Income attributable to U.S. Bancorp
$1.95 bln
Q1 Net Interest Income
$4.26 bln
Q1 CET1 Capital Ratio
10.80%
Q1 Credit Loss Provision
$576 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 13 "strong buy" or "buy", 10 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for US Bancorp is $61.00, about 8.2% above its April 15 closing price of $56.37

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

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

(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.)