#3 - U.S. Bancorp (NYSE:USB)
If there’s an industry that may be a close second to Apple in Warren Buffett’s heart, it could be the banking industry. Berkshire-Hathaway holds positions in eight different bank stocks, which adds up to over $73 billion of its portfolio. U.S. Bancorp (USB) is not the largest of its bank holdings, but it’s certainly not the smallest either. With Berkshire’s recent purchase of 3.8 million shares, it brought its total stake in the company to over 87 million shares that are currently valued at around $4.6 billion. This makes U.S. Bancorp the fourth-largest bank stock in Berkshire’s portfolio.
The Minneapolis-based banking giant has nearly a half a trillion dollars in assets. This cash reserve is one reason it is simply more efficient and generates more profit than many of its peers. Also to its credit, during the 2008-2009 banking crisis, U.S. Bancorp did not have a single quarter of negative earnings. U.S. Bancorp is the parent company of U.S. Bank National Association.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
Read More - Current Price
- $52.12
- Consensus Rating
- Hold
- Ratings Breakdown
- 8 Buy Ratings, 12 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $51.22 (1.7% Downside)
