U.S. Bancorp
Pairs deposit-funded banking with card issuing, merchant acquiring, wealth and institutional services.
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Profile
Provides consumer, business, commercial and institutional banking alongside wealth services, card issuing and merchant acquiring, earning lending spreads and transaction or advisory fees. Its Midwest-and-West branch base is paired with nationwide payments and institutional capabilities, now expanded by BTIG.
Combines deposit-funded lending with payments, wealth, trust and capital markets services through U.S. Bank National Association. Its client-facing segments are Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; and Payment Services. Shared client relationships generate lending spreads and fees from cards, merchant acquiring through Elavon, treasury management, asset servicing and wealth services.
Branch banking remains concentrated in the Midwest and West, while payments and institutional services reach national and international clients. BTIG adds institutional trading, investment banking, research and prime brokerage to the capital markets platform. Earnings depend on deposit costs, interest rates, credit quality and payment activity. The holding company and national bank operate under Federal Reserve, OCC, FDIC and CFPB capital, liquidity and consumer-protection rules.
Company facts
Key statistics
Year to date +15.8% · Average volume (30d) 6.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | RBC Capital | Reiterate | Outperform | $61 | $68 | |
| Jul 20, 2026 | Evercore ISI | Upgrade | Positive | Outperform | $65 | $72 |
| Jul 20, 2026 | BTIG | Target | $67.50 | |||
| Jul 20, 2026 | CLSA | Target | $67.50 | |||
| Jul 20, 2026 | JP Morgan | Upgrade | Underweight | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 16, 2026Q2 FY26 | $1.28 | $1.35 | +5.5% | $7.58B | $7.71B | +1.8% | −1.36% |
| Apr 16, 2026Q1 FY26 | $1.14 | $1.18 | +3.5% | $7.28B | $7.29B | +0.1% | +2.61% |
| Jan 20, 2026Q4 FY25 | $1.19 | $1.26 | +5.9% | $7.32B | $7.36B | +0.6% | +2.00% |
| Oct 16, 2025Q3 FY25 | $1.13 | $1.22 | +8.0% | $7.17B | $7.30B | +1.9% | +0.09% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $10.35B | $10.53B | $11.01B | $10.98B | $10.84B | $10.92B | |
| Gross profit | $6.39B | $6.47B | $6.73B | $7.34B | $6.68B | $7.15B | |
| Operating income | $2.16B | $2.29B | $2.53B | $2.53B | $2.69B | $2.72B | |
| Net income | $1.71B | $1.82B | $2.00B | $2.05B | $1.95B | $2.18B | |
| Diluted EPS | $1.03 | $1.11 | $1.21 | $1.26 | $1.18 | $1.35 | |
| Gross margin | 61.7% | 61.5% | 61.1% | 66.8% | 61.7% | 65.4% | |
| Operating margin | 20.9% | 21.8% | 23.0% | 23.1% | 24.8% | 24.9% |
Fiscal years (4-quarter sums)FY21 $23.71B · FY22 $27.40B · FY23 $40.62B · FY24 $42.71B · FY25 $42.86B
Revenue by product · Q1 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $66.49B · Total debt $96.01B · Total assets $725.92B · Shareholders' equity $67.43B
Dividends
Raised for 16 straight years — most recently to $0.52 from $0.50 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.52 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.52 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.52 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.52 | raised from $0.50 |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.50 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.50 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.50 | |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.50 | raised from $0.49 |
Ownership
Shares outstanding 1.56B · Float 1.55B · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 127.14M | 8.16% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 101.30M | 6.50% | 13F | Aug 13, 2026 |
| State Street Corp | 73.14M | 4.70% | 13F | Aug 7, 2026 |
| JPMorgan Chase & Co | 59.69M | 3.83% | 13F | Aug 12, 2026 |
| FMR LLC | 51.28M | 3.29% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 23, 2026 | James L. Chosy | officer: Senior EVP and General Counsel | −22,968 | $63.28 |
| Jul 20, 2026 | Stephen L. Philipson | officer: Vice Chair | −36,906 | $63.08 |
| May 5, 2026 | Venkatachari Dilip | officer: SEVP & Chief Info & Tech Off | −34,522 | $55.52 |
| Apr 21, 2026 | Jodi L. Richard | officer: Vice Chair | −40,000 | $57.00 |
| Feb 6, 2026 | Mark G. Runkel | officer: Vice Chair | −32,195 | $60.65 |
Peers
- JPMorgan Chase
Largest U.S. bank; top rival in commercial banking, payments, and wealth.
- Wells Fargo
3rd-largest U.S. bank; rival in deposits, commercial, and merchant services.
- Bank of America
2nd-largest U.S. bank; rival across consumer, commercial, wealth, and cards.
- PNC Financial Services Group
Closest super-regional peer in C&I lending, treasury management, and asset size.
- Truist Financial
6th-largest U.S. bank; competes in consumer, commercial, and payments.
- Fifth Third
Midwest super-regional; rival in commercial payments and consumer deposits.
- Global Payments
Pure-play global merchant acquirer; rivals Elavon in acquiring post-Worldpay.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| U.S. Bancorp | $62.47 | +0.01% | $97.31B | 12.5 | 11.5 | 2.2 | +10.6% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Wells Fargo | $86.69 | +0.01% | $262.12B | 12.5 | 11.6 | 2.0 | +8.6% |
| Bank of America | $62.30 | −0.04% | $442.26B | 14.4 | 12.7 | 2.3 | +19.3% |
| PNC Financial Services Group | $256.30 | +5.78% | $96.65B | 13.3 | 11.9 | 2.7 | +21.4% |
| Truist Financial | $53.13 | +5.37% | $62.83B | 12.0 | 10.6 | 2.1 | +6.5% |
| Fifth Third | $54.60 | +0.14% | $49.43B | 18.6 | 11.9 | 3.3 | +45.2% |
| Global Payments | $91.82 | +0.02% | $22.79B | — | 6.2 | 2.2 | +61.5% |
| Median | 13.8 | 11.9 | 2.3 | +21.4% |