US Bancorp

USB · NYSE

$59.09+$1.24 (+2.14%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $57.85

USB analyst rating

BuyConsensus of 21 analysts over the last 12 months. 67% rate it a buy.

Strong buy1
Buy13
Hold7
Underperform0
Sell0

12-month price target · 24 analysts

Average $70.91 (+20.0% upside)

Low: $54.54
Now: $59.09
High: $80.85

Upgrades and downgrades

The latest rating actions, newest first

USB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 16, 2026	Maintains	Buy	$72.00 → $70.00	77%
DA Davidson	Oct 16, 2026	Maintains	Buy	$73.00	61%
Oppenheimer	Oct 16, 2026	Maintains	Outperform	$72.00 → $73.00	67%
RBC Capital	Oct 16, 2026	Maintains	Outperform	$68.00 → $65.00	67%
Evercore ISI Group	Oct 16, 2026	Maintains	Outperform	$65.00 → $67.00	52%
TD Cowen	Oct 8, 2026	Initiates	Buy	$70.00	50%
Raymond James	Oct 6, 2026	Maintains	Strong Buy	$74.00 → $72.00	61%
UBS	Oct 5, 2026	Maintains	Neutral	$66.00 → $64.00	50%
JP Morgan	Oct 2, 2026	Maintains	Neutral	$69.00 → $65.00	46%
Evercore ISI Group	Oct 1, 2026	Maintains	Outperform	$72.00 → $65.00	52%

The case for and against

Updated Oct 14, 2026

Bull case

U.S. Bancorp is viewed positively because it has largely moved beyond the investment, capital rebuild, and integration phases, with profitability back near targeted levels and a clear shift toward revenue-led operating leverage. In 2Q26, it posted record net revenue of $7.7 billion, diluted EPS of $1.35, ROTCE of 18.7%, and 400 basis points of positive operating leverage, while credit quality improved and the reported CET1 ratio stood at 10.8%. Its broad franchise in banking, payments, wealth, trust, and capital markets, plus fee growth from BTIG, Bank Smartly, and loan momentum, supports sustainable earnings growth and greater capital flexibility.

Bear case

U.S. Bancorp is exposed to multiple fundamental pressures that weaken its outlook, including interest rate risk, intense competition from banks and fintechs, and regulatory as well as capital-liquidity constraints that can limit balance sheet flexibility and earnings resilience. The company’s vulnerability is amplified by macro uncertainty, with hostilities in the Middle East, persistent inflation, and policy risk potentially driving a recession in 2027, higher credit costs, and weaker net interest margin trends. Although provision expense declined to $538M and net charge-offs eased to 53bp of average loans, the anticipated ~$160M reserve build for the Amazon Small Business card portfolio and the risk of a U.S. recession could still pressure profitability and credit quality.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.