U.S. Bancorp said fee revenue grew 14.9%, with about half attributable to BTIG. It targets capital-markets fees above 10% of earnings from 8% and expects a prompt restart of share repurchases as interest rates stabilized.
USB · US Bancorp \De\
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U.S. Bancorp said its executives will present at the BancAnalysts Association of Boston Conference at 10:15 a.m. Eastern time on November 6, 2026, with slides and a webcast available through Investor Relations.
U.S. Bancorp issued C$1,000,000,000 4.422% Fixed-to-Floating Rate Senior Notes due November 5, 2032. The fixed rate applies from November 5, 2026 to, excluding November 5, 2031, when quarterly floating rates equal Compounded CORRA plus 110 basis points begin.
U.S. Bancorp reported $2.2 billion in third-quarter 2026 net income, up from $2.0 billion a year earlier, while first-nine-month net income reached $6.3 billion. Average loans increased 8.0 percent.
U.S. Bancorp closed the sale of 1,000,000 depositary shares on October 30, 2026, each representing 1/25th of a share of 7.20% Series P Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock with a $25,000 per-share liquidation preference.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
Equibles Research
our published analysis of this companyEquibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| 90+ day delinquency | 0.18% | 3Q26 | — |
| Allowance for credit losses | $8.17B | 3Q 2026 | — |
| Allowance for credit losses as a percentage of nonperforming loans | 636% | 3Q 2026 | — |
| Allowance for credit losses as a percentage of period-end loans | 1.97% | 3Q 2026 | — |
| Average noninterest-bearing deposits | $80.97B | 3Q 2026 | — |
| Average total deposits | $526.6B | 3Q26 | — |
| Average total loans | $409.55B | 3Q26 | — |
| Basel III standardized CET1 | 10.8% | 3Q26 | — |
| Book value per common share (period end) | $38.27 | 3Q26 | — |
| Common equity tier 1 capital ratio, including AOCI related adjustments non-GAAP | 9.1% | 3Q26 | — |
| Common equity to assets non-GAAP | 8.5% | September 30, 2026 | — |
| Earnings returned | $847M | 3Q26 | — |
| Efficiency ratio non-GAAP | 55.9% | 3Q26 | — |
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| Net charge-off ratio | 0.51% | 3Q 2026 | — |
| Net charge-offs - Commercial Real Estate | 0.31% | 3Q26 | — |
| Net charge-offs - Credit Card | 3.29% | 3Q26 | — |
| Net charge-offs - Other Retail | 0.53% | 3Q26 | — |
| Net interest margin | 2.84% | 3Q26 | — |
| Net interest margin (taxable-equivalent basis) non-GAAP | 2.84% | 3Q26 | — |
| Nonperforming assets | $1.32B | 3Q 2026 | — |
| Operating leverage non-GAAP | 2.4% | Three Months Ended September 30, 2026 | — |
| Operating Leverage (YoY) non-GAAP | 240 | 3Q26 | — |
| Provision for credit losses | $654M | 3Q 2026 | — |
| Ratio of nonperforming assets to loans and other real estate | 0.32% | 3Q 2026 | — |
| Reported Fee Revenue | $3.55B | 3Q26 | — |
| Return on average assets | 1.25% | 3Q26 | — |
| Return on average common equity | 13.6% | 3Q26 | — |
| Return on tangible common equity non-GAAP | 18.5% | 3Q26 | — |
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| Risk-weighted assets, determined in accordance with prescribed regulatory capital requirements e non-GAAP | $508.17B | September 30, 2026 | — |
| Small Business average deposits | $45B | 3Q26 | — |
| Small Business average loans | $18B | 3Q26 | — |
| Small Business fees | $223M | 3Q26 | — |
| Tangible book value per common share (period end) non-GAAP | $29.34 | 3Q26 | — |
| Tangible common equity to risk-weighted assets non-GAAP | 9% | September 30, 2026 | — |
| Tangible common equity to tangible assets non-GAAP | 6.6% | 3Q26 | — |
| Total net charge-offs | $523M | 3Q 2026 | — |
| Total noninterest expense, excluding BTIG non-GAAP | 2% | 3Q26 | — |
| Liquidity Coverage Ratio | 107.6% | Three Months Ended June 30, 2026 filing | — |
| Mortgage Servicing Rights and Related Hedges VaR | $3M | Three Months Ended June 30 filing | — |
| Ratio of total loan net charge-offs to average loans outstanding (annualized) | 0.53% | the second quarter filing | — |
| Residential Mortgage Loans Held For Sale and Related Hedges VaR | $1M | Three Months Ended June 30 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Banks - Regional — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
USB
this stock
US Bancorp \De\
|
$95.04B | +14.3% | +4.4% | 11.9 | 1.7% |
|
HDB
Hdfc Bank Ltd
|
$132.87B | -29.3% | -3.2% | — | 0.8% |
|
MFG
Mizuho Financial Group Inc
|
$124.83B | +41.3% | — | — | 0.1% |
|
IBN
Icici Bank Ltd
|
$123.94B | +15.8% | — | — | 0.5% |
|
CIXPF
CaixaBank
|
$93.83B | +10.9% | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 6, 2026
- This year
- 30
U.S. Bancorp said its executives will present at the BancAnalysts Association of Boston Conference at 10:15 a.m. Eastern time on November 6, 2026, with slides and a webcast available through Investor Relations.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| USB | +2.6% | +3.9% | +10.5% | +2.6% | +14.3% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +0.0% | +5.0% | +10.0% | +2.8% | +3.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.