U.S. Bancorp Management
Management criteria checks 3/4
U.S. Bancorp's CEO is Gunjan Kedia, appointed in May 2024, has a tenure of 2.17 years. total yearly compensation is $16.67M, comprised of 6.8% salary and 93.2% bonuses, including company stock and options. directly owns 0.027% of the company’s shares, worth $26.00M. The average tenure of the management team and the board of directors is 2.5 years and 7.1 years respectively.
Key information
Gunjan Kedia
Chief executive officer
US$16.7m
Total compensation
| CEO salary percentage | 6.85% |
| CEO tenure | 2.2yrs |
| CEO ownership | 0.03% |
| Management average tenure | 2.5yrs |
| Board average tenure | 7.1yrs |
Recent management updates
Recent updates
Narrative Update • Jul 06
USB: Capital Markets Expansion And Dividend Plans Will Shape Future Earnings Profile
The analyst price target for U.S. Bancorp has been raised from $63.50 to $65.75 as analysts cite updated Q2 earnings previews, a slightly lower discount rate, modest shifts in revenue growth and profit margin assumptions, and a higher future P/E multiple informed by recent Street research. Analyst Commentary Recent Street research on U.S. Bancorp presents a mix of optimism around earnings execution and balance sheet trends, alongside pockets of caution on valuation and rate sensitivity.Seeking Alpha • Jul 06
U.S. Bancorp: Strong Earnings Outlook For Q2
Summary U.S. Bancorp is positioned for a strong Q2 '26 earnings report, driven by robust economic conditions and sustained high-interest rates. UBS benefits from strong net interest income tailwinds, supported by increased credit demand and the Federal Reserve's decision to keep rates unchanged. Earnings estimate revision momentum is positive, with 9 EPS estimate upgrades versus 2 downgrades in the last 90 days, reflecting market optimism. UBS trades at a 63% premium to book value, with mid-single-digit loan growth and strong asset quality expected to support continued outperformance. Read the full article on Seeking AlphaNarrative Update • Jun 15
USB: Capital Markets Expansion And Buybacks Will Shape Future Earnings Profile
Analysts have made a modest adjustment to the U.S. Bancorp price target, incorporating a fair value estimate of about $63.50, along with updated views on revenue growth, profit margins, and future P/E assumptions that reflect a wide mix of recent upward and downward target revisions across firms such as JPMorgan, Evercore ISI, Truist, Morgan Stanley, Oppenheimer, RBC Capital, Barclays, Jefferies, BofA, UBS, Goldman Sachs, and HSBC. Analyst Commentary Recent research shows a split tape on U.S. Bancorp, with both upward and downward price target moves clustering around the updated fair value view of about US$63.50.Narrative Update • Jun 01
USB: New Partnerships And Buybacks Will Shape Future Earnings Power
Analysts have made only a marginal adjustment to the U.S. Bancorp price target, with the fair value estimate moving by about $0.08, reflecting a mix of modest upward and downward target revisions across the Street. Analyst Commentary Recent Street research on U.S. Bancorp shows a mix of higher and lower price targets, which leaves the overall fair value estimate only slightly changed.Narrative Update • May 07
USB: Capital Flexibility And Easing Oversight Will Shape Future Earnings Power
Analyst price targets for U.S. Bancorp have shifted modestly higher to reflect a fair value move from $62.95 to $63.48, with analysts pointing to updated assumptions for revenue growth, profit margins, and future P/E multiples as they balance recent target raises and cuts across the broker community. Analyst Commentary Recent research updates around U.S. Bancorp show a mix of higher and lower price targets, as well as at least one rating upgrade, giving you a split view on how the stock’s risk and reward trade off at current levels.Narrative Update • Apr 21
USB: Capital Flexibility And Regulation Will Shape Future Earnings And Risk Profile
The analyst price target for U.S. Bancorp increases slightly to $62.95 from $62.55, as analysts incorporate updated assumptions for revenue growth, profit margins and forward P/E following a mix of recent price target increases and reductions across the Street. Analyst Commentary Recent research on U.S. Bancorp shows a mix of optimism and caution, with several firms adjusting price targets both higher and lower.Narrative Update • Apr 07
USB: Capital Flexibility And Buybacks Will Support Future Earnings Rebound
Analysts trimmed the U.S. Bancorp fair value estimate by about $1.41 to $62.55, reflecting slightly softer revenue growth assumptions, a modestly lower future P/E of 13.67x, and a small improvement in expected profit margins, following mixed but active recent price target revisions across Wall Street firms. Analyst Commentary Recent Street research around U.S. Bancorp has been active, with several firms adjusting price targets and ratings in both directions.Narrative Update • Mar 23
USB: Capital Flexibility And Buybacks Will Support Stronger Earnings Power
The analyst price target for U.S. Bancorp is updated slightly lower to about $64 from about $64.20, as analysts weigh a modestly higher discount rate alongside small adjustments to revenue growth, profit margin and future P/E assumptions following a series of recent target hikes and rating changes across the Street. Analyst Commentary Street research on U.S. Bancorp has leaned more constructive in recent weeks, with several firms lifting price targets and, in one case, upgrading the stock, while a downgrade to a more neutral stance highlights areas where expectations may need to stay grounded.Narrative Update • Mar 07
USB: Capital Flexibility And Buybacks Will Support A Stronger Risk Reward Profile
The analyst price target for U.S. Bancorp nudged higher to about $64.18 from roughly $63.95 as analysts cited improving net interest margin trends, greater balance sheet and capital flexibility, and potential for sustained positive operating leverage supported by recent price target increases across several firms. Analyst Commentary Recent research on U.S. Bancorp reflects a generally constructive tone, with several firms adjusting price targets higher and one downgrade tempering the overall picture.Narrative Update • Feb 20
USB: Capital Markets Expansion And Buybacks Will Shape A Steady Risk Reward Profile
Our analyst price target for U.S. Bancorp has been lifted by about $1 to $63.95 as analysts factor in updated fair value estimates, a slightly lower discount rate, assumptions of steady revenue growth and margins, and a somewhat higher future P/E multiple supported by recent Street price target increases across multiple firms. Analyst Commentary Recent research points to a generally constructive tone on U.S. Bancorp, with a cluster of price target changes and one rating downgrade giving you a fuller picture of how the Street is framing risk and reward.Narrative Update • Feb 05
USB: Capital Markets Expansion And Buybacks Will Shape A Balanced Outlook
The updated analyst price target for U.S. Bancorp edges up by about US$1 to just over US$62. Analysts are factoring in slightly higher fair value, a lower discount rate, expectations for improved profit margins, and a more conservative future P/E multiple following a series of recent target hikes across the Street.Narrative Update • Jan 22
USB: Higher Capital Returns And Capital Markets Expansion Will Support Steady Outlook
Analysts nudged their price targets for U.S. Bancorp higher after updating models that now point to a fair value of about $62.16. This figure is supported by slightly adjusted discount rates, a higher assumed revenue growth outlook, a somewhat lower profit margin assumption, and a modestly higher future P/E multiple.Narrative Update • Jan 08
USB: Higher Capital Returns And Regulatory Shifts Will Shape Steady Outlook Through 2026
Narrative Update Our analyst price target for U.S. Bancorp moves from US$57.50 to about US$60.84. This reflects analysts' higher expectations for revenue growth, profit margins, and a modestly lower discount rate following a series of upward target revisions across the Street.Narrative Update • Dec 23
USB: Improving Operating Leverage And Capital Returns Will Support Steady Performance Through 2026
Analysts have nudged our U.S. Bancorp fair value estimate higher to $57.50 from $55.63 as they factor in rising price targets, stronger fee and net interest income trends, and improving operating leverage that support slightly faster growth and a modestly richer future earnings multiple. Analyst Commentary Bullish analysts highlight that U.S. Bancorp is entering a period of stronger operating performance, with recent quarters showing positive operating leverage after years of pressure.Narrative Update • Dec 09
USB: Fee Income And Capital Build Will Support Steady Performance Through 2026
Analysts have modestly raised their price targets on U.S. Bancorp, with several updates in the roughly $1 to $5 range supporting a slightly higher fair value outlook as they cite improving operating leverage, better fee income growth, and steady profitability gains. Analyst Commentary Bullish analysts highlight U.S. Bancorp's improving operating leverage and fee income trends as key drivers behind the recent round of price target increases.Narrative Update • Nov 25
USB: Fee Momentum And Credit Strength Will Support Performance Through 2026
Analysts have modestly lowered their fair value estimate for U.S. Bancorp from $55.72 to $55.63 per share. This change reflects strong operating leverage and improved fee income growth reported in recent earnings updates.Narrative Update • Nov 07
USB: Higher Fee Income and Credit Improvements Will Drive Performance Into 2026
U.S. Bancorp's average analyst price target rose slightly this quarter. Analysts cited improved profitability, better fee income growth, and solid credit metrics as reasons for upward revisions in their forecasts.Narrative Update • Oct 24
Operating Leverage And Fee Income Will Drive Efficiency Amid Regulatory Shifts
The consensus analyst price target for U.S. Bancorp has increased slightly, reflecting a modestly higher fair value estimate of $55.67. Analysts cite improved operating leverage, better-than-expected revenue growth, and positive earnings momentum for the upward revision.Narrative Update • Oct 10
Digital Banking And Demographics Will Secure Future Efficiency
The analyst price target for U.S. Bancorp has increased from $54.13 to $54.95, a modest rise that reflects analysts' optimism over the company's improved risk/reward profile, steady profit margin gains, and ongoing efforts to strengthen loan growth and capital markets activity. This comes despite selectivity concerns following a recent sector rally.Narrative Update • Sep 26
Digital Banking And Demographics Will Secure Future Efficiency
Analysts raised their price target for U.S. Bancorp, citing industry-leading ROTCE, improving profitability, capital return potential, and easing capital requirements, while acknowledging ongoing peer underperformance and valuation concerns; the consensus fair value moved up slightly to $54.13. Analyst Commentary Bullish analysts highlight undervaluation versus peers, industry-leading ROTCE, and potential for accelerating loan growth, improved capital returns (buybacks), and operating leverage as key reasons for upward price adjustments.Seeking Alpha • Apr 16
U.S. Bancorp: Reassuring Q1 Results Make Me Look Beyond Tariff Woes
Summary U.S. Bancorp stock is down more than 30% from the 52-week high it hit shortly after Donald Trump's election victory. The recent tariff announcements make the selloff understandable, but I think it's worth taking a closer look. I take a fresh look at U.S. Bancorp after today's Q1 2025 earnings report and explain why I'm adding to my USB stock position - despite the tariff woes. In addition to loans, deposits, and cost trends, I look at U.S. Bancorp's asset quality and comment on the safety of the dividend. Read the full article on Seeking AlphaSeeking Alpha • Mar 27
U.S. Bancorp: A Victim Of Market Apathy
Summary Shares of U.S. Bancorp have only managed a roughly 20% return since 2019. Although certain financial trends have been weak, market apathy has also taken its toll on the stock. The valuation is such that U.S. Bancorp's current earnings power should be enough to drive good returns from here. Read the full article on Seeking AlphaSeeking Alpha • Jan 21
A Pair Trade Opportunity Presented By U.S. Bancorp Floating-Rate Preferred Stocks
Summary Highlighting exchange-traded floating preferred stocks of U.S. Bancorp, specifically USB-A and USB-B, for potential investment opportunities. Recently published an analysis on USB-A's investment qualities, now focusing on pair trade opportunities with USB-H. USB-A is currently undervalued compared to USB-H, presenting a pair trade opportunity with a potential of over 10% capital appreciation. The arbitrage opportunity may take months to close, with borrowing fees and daily charges eroding trade potential. A catalyst event could rapidly close the arbitrage, making timing and investor discretion crucial for maximizing gains. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
U.S. Bancorp: Strong Return On Equity Should Lead To Sector Outperformance
Summary U.S. Bancorp has a net interest margin roughly in line with its competitors. The bank has a low NPL ratio, indicating effective credit risk management and a healthy loan portfolio. The bank has shown it has a robust deposit base, indicating a strong, cost-effective funding structure. The bank outperforms its peers when considering return on equity. U.S. Bancorp based on the current valuations expected to deliver a five-year annual return of 17.3%. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$7b |
| Dec 31 2025 | US$17m | US$1m | US$7b |
| Sep 30 2025 | n/a | n/a | US$7b |
| Jun 30 2025 | n/a | n/a | US$7b |
| Mar 31 2025 | n/a | n/a | US$6b |
| Dec 31 2024 | US$10m | US$931k | US$6b |
| Sep 30 2024 | n/a | n/a | US$5b |
| Jun 30 2024 | n/a | n/a | US$5b |
| Mar 31 2024 | n/a | n/a | US$5b |
| Dec 31 2023 | US$6m | US$725k | US$5b |
| Sep 30 2023 | n/a | n/a | US$5b |
| Jun 30 2023 | n/a | n/a | US$5b |
| Mar 31 2023 | n/a | n/a | US$6b |
| Dec 31 2022 | US$6m | US$700k | US$6b |
| Sep 30 2022 | n/a | n/a | US$6b |
| Jun 30 2022 | n/a | n/a | US$6b |
| Mar 31 2022 | n/a | n/a | US$7b |
| Dec 31 2021 | US$5m | US$655k | US$8b |
| Sep 30 2021 | n/a | n/a | US$7b |
| Jun 30 2021 | n/a | n/a | US$7b |
| Mar 31 2021 | n/a | n/a | US$6b |
| Dec 31 2020 | US$4m | US$655k | US$5b |
| Sep 30 2020 | n/a | n/a | US$5b |
| Jun 30 2020 | n/a | n/a | US$5b |
| Mar 31 2020 | n/a | n/a | US$6b |
| Dec 31 2019 | US$4m | US$575k | US$7b |
Compensation vs Market: Gunjan's total compensation ($USD16.67M) is about average for companies of similar size in the US market ($USD14.63M).
Compensation vs Earnings: Gunjan's compensation has increased by more than 20% in the past year.
CEO
Gunjan Kedia (55 yo)
2.2yrs
Tenure
US$16,674,515
Compensation
Ms. Gunjan Kedia is Chairman & CEO of U.S. Bank National Association. Ms. Kedia was President & Director of U.S.Bank National Association from January 28, 2025 to April 15, 2025. Ms. Kedia was President,...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2.2yrs | US$16.67m | 0.027% $ 26.0m | |
| Vice Chair & Chief Financial Officer | 2.8yrs | US$5.77m | 0.0069% $ 6.6m | |
| Senior EVP & Chief Human Resources Officer | 5.8yrs | US$5.04m | 0.0047% $ 4.4m | |
| Vice Chair & Head of Wealth | 3.3yrs | US$6.09m | 0.0072% $ 6.9m | |
| Vice Chair & Chief Risk Officer | no data | US$10.00m | 0.013% $ 12.6m | |
| Senior EVP & Chief Operations Officer | less than a year | no data | no data | |
| Head of Global Investment Services | less than a year | no data | no data | |
| EVP & Head of Corporate Finance | no data | no data | no data | |
| Senior EVP and Chief Information & Technology Officer | 7.8yrs | no data | 0.0033% $ 3.1m | |
| Senior EVP and Head of Enterprise Strategy & Administration | 1.3yrs | no data | no data | |
| Head of Investor Relations | less than a year | no data | no data | |
| Senior EVP & General Counsel | 13.3yrs | no data | 0.016% $ 15.5m |
2.5yrs
Average Tenure
55yo
Average Age
Experienced Management: USB's management team is considered experienced (2.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.5yrs | US$16.67m | 0.027% $ 26.0m | |
| Independent Director | 6.5yrs | US$334.50k | 0% $ 0 | |
| Independent Director | 10.6yrs | US$331.50k | 0% $ 0 | |
| Lead Independent Director | 14.5yrs | US$366.50k | 0% $ 0 | |
| Independent Director | 7.8yrs | US$309.50k | 0% $ 0 | |
| Independent Director | 8.8yrs | US$324.50k | 0.0013% $ 1.2m | |
| Independent Director | 2yrs | US$331.50k | 0.00096% $ 912.2k | |
| Independent Director | 8.1yrs | US$316.50k | 0% $ 0 | |
| Independent Director | 3.5yrs | US$306.50k | 0.00065% $ 617.6k | |
| Independent Director | 8.1yrs | US$331.50k | 0% $ 0 | |
| Independent Director | 5.5yrs | US$314.50k | 0% $ 0 | |
| Independent Director | 3.8yrs | US$312.50k | 0% $ 0 |
7.1yrs
Average Tenure
64yo
Average Age
Experienced Board: USB's board of directors are considered experienced (7.1 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/09 21:37 |
| End of Day Share Price | 2026/07/09 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
U.S. Bancorp is covered by 47 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Stephen Biggar | Argus Research Company |
| David George | Baird |
| Jason Goldberg | Barclays |