U.S. Bancorp: NII And Growth Tailwinds

U.S. Bancorp delivered strong Q1 results, surpassing earnings expectations on robust lending and fee income momentum. USB benefits from higher-for-longer interest rates, driving 4.1% Y/Y net interest income growth and supporting a positive outlook for NII and margins. The bank projects 6–7% Y/Y growth in net interest income in Q2'26, supporting valuation gains.