BUZZ — Street View: US Bancorp shrugs off weak spots, keeps the cheers coming
* US Bancorp's quarterly profit of $2.20 billion topped analysts' estimates, though net interest income and revenue came in slightly below expectations * Co launched proprietary stablecoin pilot and new small-business credit cards * 24 analysts rate stock "buy" on average; median PT at $68 - LSEG data Ticks More Boxes Than It Misses * Barclays ("overweight," PT: $75) says stronger fees and provisions, excluding Amazon -related reserve build, drove earnings upside, while net interest income met expectations, though expenses increased * Jefferies ("buy," PT: $70) says buybacks were on pause as expected, reflecting loan growth, Amazon portfolio onboarding and higher rates, but should resume over next quarter or two * TD Cowen ("buy," PT: $70) says there is still some flexibility in its estimates for factors outside management's control and continued strong execution could provide further upside to forecasts * Morningstar (Fair Value: $65) "expects higher deposit costs in the near term, given higher short-term interest rates and generally strong commercial lending demand; the bank has been actively increasing its asset sensitivity over the past four years by shifting its balance sheet
* US Bancorp's quarterly profit of $2.20 billion topped analysts' estimates, though net interest income and revenue came in slightly below expectations * Co launched proprietary stablecoin pilot and new small-business credit cards * 24 analysts rate stock "buy" on average; median PT at $68 - LSEG data Ticks More Boxes Than It Misses * Barclays ("overweight," PT: $75) says stronger fees and provisions, excluding Amazon -related reserve build, drove earnings upside, while net interest income met expectations, though expenses increased * Jefferies ("buy," PT: $70) says buybacks were on pause as expected, reflecting loan growth, Amazon portfolio onboarding and higher rates, but should resume over next quarter or two * TD Cowen ("buy," PT: $70) says there is still some flexibility in its estimates for factors outside management's control and continued strong execution could provide further upside to forecasts * Morningstar (Fair Value: $65) "expects higher deposit costs in the near term, given higher short-term interest rates and generally strong commercial lending demand; the bank has been actively increasing its asset sensitivity over the past four years by shifting its balance sheet mix toward floating-rate loans and cash" (Reporting by Akriti Shah in Bengaluru) ((akriti.shah@thomsonreuters.com; X, formerly Twitter: @AkritiShahh)