Truist Keeps Buy on U.S. Bancorp (USB) Despite Pressure from Rates and Macro Risks

U.S. Bancorp (NYSE:USB) is included among the Dividend Stock Portfolio for Income: 15 Stocks to Invest In.

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On March 26, Truist Financial lowered its price recommendation on U.S. Bancorp (NYSE:USB) to $63 from $66. It reiterated a Buy rating on the shares.  The update came as part of a broader note on regional and universal banks. The analyst said sentiment around bank stocks has been weighed down by several factors, including war, interest rates, stagflation, AI displacement, and private credit. Even with those concerns, recent updates for the quarter have been relatively positive. The tone from management teams has also been constructive when looking at the full year ahead.

Also on March 26, the company announced that Toby Clements will take on the role of senior executive vice president and chief operations officer. In this position, he will oversee client service centers and global operations, leading a team of more than 16,000 employees. He will report directly to CEO Gunjan Kedia, with the change effective April 13.

Clements will join the company’s managing committee and replace Souheil Badran, who announced earlier this year that he plans to retire.

U.S. Bancorp (NYSE:USB) operates as a financial services holding company. Its business spans wealth management, corporate, commercial and institutional banking, consumer and business banking, payment services, and treasury and corporate support.

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