U.S. Bancorp (NYSE:USB) reported upbeat first-quarter 2026 results on Thursday.

The bank reported first-quarter adjusted earnings per share of $1.18, beating the analyst consensus estimate of $1.14. Quarterly sales of $7.288 billion outpaced the Street view of $7.277 billion.

"Strong revenue growth drove 440 basis points of positive operating leverage, as ongoing investments for growth and continued cost savings drove 260 basis points of year-over-year improvement in our efficiency ratio," said CEO Gunjan Kedia.

U.S. Bancorp expects net interest income and fees to grow 6%–7% in the second quarter. The bank also guides full-year revenue growth of 4%–6% with operating leverage of over 200 basis points.

U.S. Bancorp shares rose 3.4% to trade at $57.34 on Friday.

These analysts made changes to their price targets on U.S. Bancorp following earnings announcement.

  • Truist Securities analyst John McDonald maintained U.S. Bancorp with a Buy and lowered the price target from $63 to $62.
  • RBC Capital analyst Gerard Cassidy maintained the stock with an Outperform rating and raised the price target from $59 to $61.
  • Barclays analyst Jason Goldberg maintained U.S. Bancorp with an Overweight rating and raised the price target from $65 to $67.
  • Oppenheimer analyst Chris Kotowski maintained the stock with an Outperform rating and boosted the price target from $71 to $73.

Considering buying USB stock? Here’s what analysts think:

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