US Bancorp shares fall as lending-income guidance trimmed
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US Bancorp reduced its outlook for net interest income (NII) to $16.1 billion to $16.4 billion this year, down from the previous guidance of $16.6 billion or more. The trend of customers shifting funds to interest-bearing accounts from those that don't pay interest hasn't slowed as quickly as expected. Shares of US Bancorp fell 3.6% to $39.53 after the announcement. The bank expects NII to be stable in the second quarter and start growing in the second half of the year. The reduction in guidance was disappointing to analysts and may weigh on the stock in the near term. US Bancorp is one of the largest lenders in the country with over $600 billion in assets.

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