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0.20%
-0.08
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Why is U S Bancorp (USB) Stock down?
We've noticed a 5.05% decline in U S Bancorp (USB) stock during the 2024-04-17 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
18 Oct, 2023:
U.S. Bancorp Stock (USB) dropped by 4.36% from $34.89 to $33.37 in the trading on Wednesday October 18, 2023. The reason why USB stock down today is due to the Q3 earnings report. U.S. Bancorp delivered solid results in Q3, but a decline in earnings on increased expenses and credit losses seemed to weigh on the stock as did the broader market sell-off, causing USB stock down today.
- Q3 revenue jumped 11.2% to $7.03 billion, driven in part by its acquisition of MUFG Union Bank. That matched revenue estimates at $7.02 billion.
- Noninterest expense jumped 18.1% to $4.25 billion, provision for credit losses increased 42.3% to $515 million.
- EPS adjusted for merger and integration-related costs fell from $1.18 to $1.05
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