Warren Buffett Trusts in These 5 Stocks Despite Losses

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

Berkshire Hathaway’s Stake Value: $5.5 billion

YTD Percentage Decline in Share Price as of August 21: 16.48%

Number of Hedge Fund Holders: 43

U.S. Bancorp (NYSE:USB) is an American bank holding company based in Minnesota. The company offers a variety of financial services, including lending and depository services, cash management, as well as investment management services.

On July 12, Citi analyst Keith Horowitz lowered his price target on U.S. Bancorp (NYSE:USB) to $50 from $53 and maintained a ‘Neutral’ rating on the shares. The analyst refreshed his U.S. bank models ahead of the second quarter earnings season, dropping his price targets to reflect the losses from the recent Federal Reserve stress test. According to Horowitz, a lot of uncertainty is priced into bank stocks, making the risk/reward setup for the group “very attractive.”

At the end of the second quarter of 2022, 43 hedge funds tracked by Insider Monkey owned stakes in U.S. Bancorp (NYSE:USB), up from 40 in the previous quarter. Those stakes held a collective value of over $6.54 billion. First Eagle Management was the company’s leading shareholder in Q2, owning a $439 million stake.

ClearBridge Investments mentioned U.S. Bancorp (NYSE:USB) in its Q4 2021 investor letter. Here is what the firm had to say:

“Over the last year, we have repositioned our portfolio to navigate the course we see ahead. We have increased our exposure to interest-rate sensitive banks by adding to existing positions in U.S. Bancorp.”