U.S. Bancorp Stock To Top The Consensus In Q2

U.S. Bancorp Stock To Top The Consensus In Q2

U. S. Bancorp (NYSE: USB) is scheduled to report its fiscal Q2 2021 results on Thursday, July 15. We expect U. S. Bancorp to top the consensus estimates for revenues and earnings. While the bank reported better than expected profit figures in the last quarter, its revenues were down on a year-on-year basis. This was mainly due to a drop in net interest income and mortgage banking revenues. That said, the bank's profitability figures received a big boost in the quarter due to a reduction in provisions for credit losses. We expect the NII to continue to suffer in the second quarter, although non-interest income is likely to increase due to a recovery in consumer demand. Further, the provisions are likely to see a further decrease. Our forecast indicates that U. S. Bancorp's valuation is around $60 per share, which is 5% above the current market price of around $58. Look at our interactive dashboard analysis on U. S. Bancorp's pre-earnings: What To Expect in Q2? for more details. (1) Revenues expected to be ahead of consensus estimates in Q2 Moving forward, we expect the outstanding loan balances and card & payment services transaction volumes to see some recovery in