As previously reported yesterday, DA Davidson analyst Peter Winter initiated coverage of U.S. Bancorp with a Neutral rating and $47 price target. The company is intentionally managing the size of the balance sheet in order stay below $700B in assets for four consecutive quarters so as to delay becoming a Category II bank, since that comes with "more onerous" capital restrictions, the analyst tells investors in a research note. Winter further cites U.S. Bancorp’s "initial integration risk" as the company has just closed the acquisition of Union Bank on December 1.
Published first on TheFly
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