5 Warren Buffett Stocks That Are Too Cheap To Ignore

2. U.S. Bancorp (NYSE:USB)

Price to Earnings Ratio as of October 17, 2022: 10

Number of Hedge Fund Holders: 43

Industry Average P/E: 14.79

U.S. Bancorp (NYSE:USB) is a commercial and corporate banking company that is headquartered in Minneapolis, Minnesota, the United States. The firm provides a host of services such as checking and savings accounts and mortgage banking and insurance.

Berkshire Hathaway’s Q2 2022 portfolio revealed that the firm had owned a $5.5 billion stake in U.S. Bancorp (NYSE:USB) which came through 119 million shares. During the same time period, 43 out of the 895 hedge funds polled by Insider Monkey had also bought the company’s shares.

U.S. Bancorp (NYSE:USB) is one of the largest regional banks in America, as it has branches in 20 states and a whopping $600 billion in assets. The ongoing Federal Reserve interest rate hike saw the firm’s interest income jump by 9.5% during its second fiscal quarter. U.S. Bancorp (NYSE:USB) pays a 48 cent dividend for a 4.4% yield and its P/E ratio of 10 is lower than the regional banking industry’s average of 14.79.

After Mr. Buffett, U.S. Bancorp (NYSE:USB)’s largest investor in our database of 895 hedge funds is Jean-Marie Eveillard’s First Eagle Investment Management which owns 9.5 million shares that are worth $439 million.