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Analysts remain bullish on U.S. Bancorp (NYSE: USB) despite banking sector slowdown. Here’s why

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The banking sector has been experiencing a looming threat in the form of a sector-wide crisis. While some organizations are feared to fall prey to the “domino effect” seen in the sector, many others have managed to stay afloat.

One such bank has been U.S. Bancorp that has managed to keep profits afloat during the first quarter of 2023. The company’s adjusted net income for Q1 2023 was US$ 1.881 billion, while the diluted earnings per common share were US$ 1.16, which was 17.2% higher annually, and 3.3% lower on a sequential basis

The company received a ‘Buy’ rating from analysts after reporting its earnings for Q1 2023. While majority analysts suggested holding the stock, UBS received an overall ‘Buy’ rating. Four analysts recommended the stock as  ‘Strong Buy’ , eight analysts gave it a ‘Buy’ rating and thirteen analysts gave it a ‘Hold’ rating. One analyst also recommended selling the stock. However, none of the analysts gave it a ‘Strong Sell’ rating.

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