Bank of America (BofA) (BAC) shares lost ground Wednesday after news that Warren Buffett's Berkshire Hathaway (BRK.A)(BRK.B) again reduced its stake in the bank.
Bank of America Corp (NYSE: BAC) CEO Brian Moynihan has praised Warren Buffett, the renowned investor, despite Buffett's recent decision to reduce his stake in the financial services giant. Speaking at a global financial services conference, Moynihan expressed appreciation for Buffett's support during a critical period for the company.
The Fed unveils plans that will tone down proposed capital requirements for big banks like JPM, C, WFC, and BAC.
Since mid-July, Berkshire Hathaway has sold more than 174.7 million shares of the Charlotte-based bank for $7.2 billion.
Berkshire now has sold Bank of America stock for 12 straight trading sessions.
Bank of America Corporation (NYSE:BAC ) Barclays 22nd Annual Global Financial Services Conference September 10, 2024 1:05 PM ET Company Participants Brian Moynihan - Chairman, CEO & President Conference Call Participants Jason Goldberg - Managing Director, Barclays Jason Goldberg Thanks, everybody. Thanks again for joining us today at this conference.
Bank of America (BAC) has raised its minimum wage to $24 an hour in the U.S., they announced Tuesday.
Bank of America CEO Brian Moynihan said on Tuesday Warren Buffett has been a great investor in the company, but he has not asked the legendary investor about recent moves to reduce his stake in the lender.
Bank stocks are in focus today, after Federal Reserve Vice Chairman for Supervision Michael Barr announced a revised draft of the Basel rule, also known as "Basel Endgame.
Warren Buffett's Berkshire Hathaway is a large shareholder, probably because of Bank of America's durability. The stock's valuation does not look compelling right now, based on its price-to-book ratio.
Bank of America (BAC) closed at $39.47 in the latest trading session, marking a +1.83% move from the prior day.
Bank of America has hired technology banking veteran Tim Carpenter from peer JPMorgan Chase to co-lead its software investment banking business, a source familiar with the matter said on Monday.