Truist Securities Bullish on U.S. Bancorp (USB) As a Top Goldman Sachs Bank Stock Despite PT Cut

U.S. Bancorp (NYSE:USB) is one of Goldman Sachs top bank stocks to buy. On April 17, Truist Securities reiterated its Buy rating on U.S. Bancorp (NYSE:USB) but cut its price target to $62 from $63. The price target cut also coincides with the research firm reducing its 2026 earnings per share estimate of the company to $5.05 from $5.10.

Truist Securities Bullish on U.S. Bancorp (USB) As a Top Goldman Sachs Bank Stock Despite PT Cut

It also cut the 2027 EPS estimate to $5.65 from $5.70. The 1% cut is in response to the expectation of a higher share count due to lower share repurchases next year. The earnings estimate cut comes amid concerns about the trajectory of net interest income growth. The research firm is also wary of the path of share repurchase through the remainder of the year.

U.S. Bancorp delivered impressive first-quarter 2026 results as revenue increased 4.7% to $7.29 billion, in line with analyst estimates. Net interest income was up 4.2% to $4.26 billion, slightly below consensus estimates of $4.27 billion. Earnings per share topped $1.18, better than the $1.14 a share expected.

U.S. Bancorp (NYSE:USB) is a Minneapolis-based financial services holding company and the parent of U.S. Bank National Association, the 7th largest bank in the U.S. It provides diversified banking, investment, mortgage, trust, and payment services to consumers, businesses, and institutions through over 2,000 branches, digital platforms, and ATM networks.

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