Maybe, just maybe, major banks are starting to see that long-awaited growth in loan demand. U.S. Bancorp (NYSE:USB) is an uncommonly well-run bank and Wall Street knows it, meaning that these shares are seldom all that cheap. JPMorgan Chase (NYSE:JPM), PNC (NYSE:PNC), and Fifth Third (NASDAQ:FITB) look like better values in the big bank sector, but U.S. Bancorp could offer some upside if loan growth and a steeper rate curve materialize.
On-Target In Q2
U.S. Bancorp came in largely as expected. Revenue was up 1% yoy and up 3% sequentially, as net interest income rose 3%/1% on significant growth in earning assets. U.S. Bancorp has been one of the few banks in...
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