Nomura Securities Raises Price Target on U.S. Bancorp (USB) Following 2Q Report

Nomura Securities reiterated a Buy rating on U.S. Bancorp (NYSE: USB), and raised the price target to $44.00 (from $39.00), following the company's 2Q earnings report. USB reported core EPS of $0.82, better than the consensus estimate of $0.80. Management initiated 3Q16 guidance, which calls for greater than previously expected NIM compression and higher operating expenses.

Analyst Bill Carcache commented, "USB reported GAAP EPS of $0.83. Excluding significant nonrecurring items (~$0.01), we estimate core EPS of $0.82, better than our estimate and consensus of $0.80. Relative to consensus, the beat was driven by better-than-expected fee income."

For an analyst ratings summary and ratings history on U.S. Bancorp click here. For more ratings news on U.S. Bancorp click here.

Shares of U.S. Bancorp closed at $41.89 yesterday.

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