CNBC's Jim Cramer explains why he is keeping an eye on shares of Bank of America.
Bank of America Corporation BAC currently offers an annual dividend yield of 2.6%. That's a quarterly dividend amount of 26 cents per share ($1.04 a year).
Despite the stock's decline since the summer and Warren Buffett's share sales, I believe Bank of America's AI investments, particularly Erica, will sustain growth and improve operational efficiency. The Federal Reserve's interest rate cuts and BAC's strong consumer spending trends present economic tailwinds, making the current market sentiment overly cautious. Analysts' conservative EPS projections for Q3 may be exceeded due to BofA's AI-driven efficiencies and robust performance in investment banking and capital markets.
Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK.A) has reduced its stake in Bank of America Corp (NYSE:BAC), selling 9.5 million shares worth $382.4 million. It brings Berkshire's ownership in the bank below 10%, which, under US Securities and Exchange Commission rules, shareholders owning more than 10% must disclose trades within two days.
It's unclear whether Berkshire Hathaway CEO Warren Buffett is finished paring the Bank of America stake.
Warren Buffett's Berkshire Hathaway cut its stake in Bank of America below an important level.
Steve Sosnick, Interactive Brokers chief strategist, and Ohsung Kwon, BofA Securities, talks the day's market action and upcoming bank earnings.
Besides Wall Street's top -and-bottom-line estimates for Bank of America (BAC), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.
Thomas Michaud, KBW president and CEO, joins 'Money Movers' to discuss what to watch for in Q3 bank earnings, how the Fed's path for rate cuts could impact the markets, and more.
Bank of America is slated to report Q3 results next week. So, we discuss the factors impacting its performance and whether you should buy the stock now or not.
Warren Buffett, known as the "Oracle of Omaha," recently sold a portion of Berkshire Hathaway's (BRK.A) holdings in Bank of America BAC. Previously, Bank of America was Berkshire's second-largest position after Apple AAPL, but Buffett has reduced his stake.
The Fed recently cut rates for the first time in over four years, but it's just the beginning.