5 Dividend Stocks Warren Buffett is Backing in 2022

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

Number of Hedge Fund Holders: 46

Dividend Yield: 3.4%

U.S. Bancorp (NYSE:USB) is a bank holding company with headquarters in Minneapolis, Minnesota. The company is the parent company of U.S. Bank National Association and is also the fifth-largest financial institution in the US. It is one of the dividend stocks Warren Buffett is backing in 2022, and makes up 2.14% of his investment portfolio.

JPMorgan’s Vivek Juneja holds an Overweight rating on U.S. Bancorp (NYSE:USB) shares as of this February.

The company was noted to have bought Union Bank and double deposit market share in California, using its share currency, in December. Analyst Erika Najarian at UBS, while noting this positive development, initiated coverage of U.S. Bancorp (NYSE:USB) with a Buy rating in December 2021.

In the fourth quarter of 2021, 46 hedge funds were long U.S. Bancorp (NYSE:USB) out of 924 hedge funds. Their total stake value was $7.9 billion, compared to the previous quarter’s total stake value of $8.4 billion, with 42 hedge funds holding stakes in the company.