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

By Reuters News


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.)

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