U.S. Bancorp (USB) reported 4Q earnings on Fri 15 Jan 2016 (before open)

** charts after earnings **

 U.S. Bancorp beats by $0.01, beats on revs :

• Reports Q4 (Dec) earnings of $0.80 per share, $0.01 better than the Capital IQ Consensus of $0.79; revenues rose 0.8% year/year to $5.21 bln vs the $5.13 bln Capital IQ Consensus. 
• Growth in average total loans of 4.2% YoY and 1.7% QoQ (excluding student loans, which were transferred to held for sale at the end of the first quarter of 2015 and returned to held for investment on Sept 1, 2015)
  • Growth in average total commercial loans of 9.0% over the fourth quarter of 2014 and 2.5% over the third quarter of 2015
  • Growth in average auto loans of 13.0% over the fourth quarter of 2014 and 2.0% over the third quarter of 2015.
• Net interest income growth of 2.6% year-over-year and 1.8% linked quarter
• Growth in average earnings assets of 5.1% year-over-year, and 1.0% on a linked quarter basis
• Net interest margin relatively stable at 3.06% for the fourth quarter of 2015 compared with 3.04% in the prior quarter
• Continued momentum in payment-related fee revenue led by year-over-year increases in credit and debit card revenue of 8.1%.
• Book value +1.3% QoQ to $23.28/share.