U.S. Bancorp Exec Says Loan Demand Is Down Compared To Year-Ago; Projecting Another Interest Rate Increase In The Summer; Net Interest Margin For The Quarter Is Going To Be Lower Than Projected
Portfolio Pulse from Benzinga Newsdesk
U.S. Bancorp executive reports a decline in loan demand compared to last year and projects another interest rate increase in the summer. The net interest margin for the quarter is expected to be lower than projected.
June 13, 2023 | 2:26 pm
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U.S. Bancorp (USB) faces lower loan demand compared to last year and expects another interest rate increase in the summer, which may negatively impact the stock price. The net interest margin for the quarter is projected to be lower than expected.
The decline in loan demand and the projection of another interest rate increase in the summer may lead to lower revenues for U.S. Bancorp. Additionally, the lower net interest margin for the quarter indicates that the company's profitability may be negatively affected, which could result in a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100