U.S. Bancorp downgraded to Neutral from Buy at UBS

UBS analyst Erika Najarian downgraded U.S. Bancorp to Neutral from Buy. The "negative cyclical and structural aftermath is likely meaningful" from the liquidity crisis in the bank group, and "potentially exacerbated for regional banks," said the firm, which cut its FY23 EPS estimate by 5% for the group and its FY24 EPS forecast by 16% on average.