Compass Point Sees Decent Quarter Earnings for U.S. Bancorp

In a report published Wednesday, Compass Point analyst Kevin Barker reiterated a Neutral rating and $43.00 price target on

. In the report, Compass Point noted, “USB reported GAAP EPS of $0.79 in 4Q, which when adjusted for one-time items ($124mm Nuveen gain, $35mm charitable contribution, and $53mm in legal accruals) we estimate operating EPS of $0.78. This beat both our estimate and the consensus estimate by one penny, as tax-advantaged investments pushed the tax rate down to 25.8% from 28% estimated.” U.S. Bancorp closed on Tuesday at $42.56.