In the closing of the recent trading day, Bank of America (BAC) stood at $39.10, denoting a +1.16% change from the preceding trading day.
Bank of America has hired Citigroup's Chief Accounting Officer Johnbull Okpara to act in the same position, the Financial Times reported on Monday.
Bank of America named co-leaders for the initiative on increased connectivity between its investment bank and wealth management units, according to an internal memo seen by Reuters on Monday.
Buffett has been selling BofA stock and pocketing some nice gains. It's hard to know exactly his thought process in regards to the sales.
Warren Buffett has sold some of Berkshire's stake, but still owns more than 11% of the bank.
Despite Warren Buffett regularly emphasizing the importance of thinking long-term, his short-term actions don't always line up with his message to investors. Since mid-July, there have been two separate 12-session streaks where Buffett has overseen the sale of Bank of America stock.
Doug and Lee discuss Warren Buffett's recent sale of Bank of America (NYSE: BAC) and Apple (NASDAQ: AAPL) shares, leaving him with a significant amount of cash, over $250 billion.
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Warren Buffett's Berkshire Hathaway Inc BRK BRK has been steadily trimming its stake in Bank of America Corp BAC, selling off $7.2 billion worth of shares since mid-July.
After the most recent 13-F filings were released, investors realized that Warren Buffett had sold out of his Bank of America Co. NYSE: BAC position. This added to the bullish capitulation trend surrounding the financial sector based on underlying weakness.
After already selling billions in Bank of America (NYSE: BAC) shares, Warren Buffett, the popular investor and CEO of Berkshire Hathaway (NYSE: BRK.A), has continued to offload the banking behemoth's stocks, dumping nearly 6 million additional BAC shares in recent days.
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>