US BANCORP \DE\
In the published model solve dated 2026-Q2, anchored at $57.31, US BANCORP \DE\ (USB) is priced for today's economics sustained for ~33.6 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• U.S. Bancorp is a large diversified bank with an unusually rich fee engine: alongside lending and deposits it runs a major Payment Services arm whose merchant-processing revenue, recorded ⟦within the Payment Services⟧ business, gives it earnings less tied to the rate cycle than a typical regional. [Source: USB FY2024 10-K] • The earnings trajectory is improving: Q1 2026 net income rose 13.8% to $1.945 billion, diluted EPS rose 14.6% to $1.18, and the bank delivered a 17.0% return on tangible c
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1,923 institutional managers reported holding USB in 13F filings for the quarter ended 2026-03-31. Together they hold about 76% of the company; the top 10 hold 37%. 108 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 27.3M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
USB's share count grew 4.4% over the past five years even with $1.09B spent on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 15 years straight; the current rate is $2.04 a share annually. Cash returned over the past three years: $8.57B in dividends and $958.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at USB over the trailing three years: 2023: 3 buys totaling $3k; 2024: 1 buy totaling $450k; 2025: 1 buy totaling $187k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
USB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-08 | +3.7% | -19.0% |
| 2023-11-02 | +7.7% | +25.9% |
| 2024-02-21 | -3.0% | +2.0% |
| 2024-05-02 | +2.4% | -3.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
USB's latest 8-K filings: 2026-10-15 (items 2.02, 7.01, 9.01); 2026-07-16 (items 2.02, 7.01, 9.01); 2026-06-24 (items 8.01, 9.01); 2026-04-23 (items 5.07, 9.01); 2026-04-16 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.