Is US Bancorp Stock a Buy?
The unexpected events that have occurred with SVB Financial, Signature Bank, and First Republic Bank have sparked contagion in the broader industry, taking down other regional bank stocks that have nothing to do with the troubled capital providers. Just look at U.S. Bancorp (NYSE: USB), whose shares are down a jaw-dropping 24% this month (as of March 29), despite no material news flow coming from the business.
Amid the turmoil, is U.S. Bank stock a buy at this point? To find the answer, investors need to focus on what really matters, and that's the cold hard facts. Let's take a closer look.
Even with the scary situation going on in the banking industry, which is certainly a huge worry for both investors and customers, U.S. Bank continues to look like a diamond in the rough. Net revenue of $6.4 billion in the fourth quarter of 2022 (ended Dec. 31) was up 12% year over year, and it was up 6.5% on a full-year basis.
Source Fool.com
