RTTNews | Jan 19, 2022 10:12AM EST

10:11 Wednesday, January 19, 2022 (RTTNews.com) - Shares of U.S. Bancorp (USB) are falling more than 6% in the morning trade on Wednesday after its fourth-quarter results missed analysts' view.

Net income was $1.673 billion or $1.07 per share compared with $1.519 billion or $0.95 per share in the same quarter a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $1.10, for the quarter.

Net interest income decreased 1.6% year-on-year to $3.15 billion.

Total noninterest income was $2.53 billion compared to $2.55 billion, prior year.

Net revenue was $5.68 billion compared to $5.75 billion. The consensus estimate stood at $5.75 billion.

USB, currently at $58.43, has traded in the range of $42.47- $63.57 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3255969/u-s-bancorp-loses-6-after-quarterly-results-fall-shy-of-estimates.aspx)

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