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US Bancorp tops Street 4Q forecasts

U.S. Bancorp on Wednesday reported fourth-quarter earnings of $1.49 billion.

The bank, based in Minneapolis, said it had earnings of 79 cents per share. Earnings, adjusted for non-recurring gains, were 78 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The financial services holding company posted revenue of $5.11 billion in the period, also exceeding Street forecasts. Analysts expected $5 billion, according to Zacks.

For the year, the company reported profit of $5.85 billion, or $3.08 per share. Revenue was reported as $19.94 billion.

U.S. Bancorp shares have fallen slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased nearly 2 percent. The stock has declined nearly 1 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on USB at http://www.zacks.com/ap/USB