US Bancorp rises after Q1 profit beats estimates

Shares of U.S. Bancorp USB.N up 1% at $39.02 premarket after Q1 profit beats estimates

USB posts adj. EPS of $1.03, beating analysts' avg. estimate of 98 cents - data compiled by LSEG

Q1 revenue of $6.96 billion vs analysts' expection of $6.91 billion - LSEG data

Bank reports Q1 NII of $4.1 billion; Q2 NII forecast between $4.1 billion and $4.2 billion

USB says it was not expecting to become Category II bank before 2027

Category II requirements apply to banks with $700 billion or more in total assets, or $75 billion or more in cross-jurisdictional activities

As of last close, USB down 19.2% YTD