One of Buffett's Favorite Stocks Looks Undervalued
U.S. Bancorp (NYSE: USB) has long been one of Warren Buffett's favorite stocks. Banks have been hit hard this year, and Buffett's company, Berkshire Hathaway, has trimmed its positions in most of its bank stocks -- but not U.S. Bancorp, which made up 2.6% of Berkshire's equity portfolio in the third quarter. Berkshire owns just under 10% of the Minneapolis-based bank's outstanding shares.
It looks like Buffett is on to something. The nation's fifth-largest bank has not only maintained its status as a top performer this year, but its stock looks undervalued, too. Here's why.
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