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.Specifically, Buttffett’s Berkshire Hathaway sold about 5.8 million Bank of America stocks, worth $228.65 million, between September 6 and September 10, at average prices ranging from $39.30 to $39.67 per share, according to a regulatory fili ...

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>>>Here are the key points:Estimates for 2024 Q3 have come down since the start of the period, with the magnitude of estimate cuts significantly bigger than what we had seen in the comparable periods of the year's first two quarters. This negative shift in the revisions trend reverses the prior ...

Key TakeawaysWarren Buffett's Berkshire Hathaway sold off more shares of Bank of America, according to a regulatory filing.This latest sales on Friday, Monday, and Tuesday totaled 5.8 million shares valued at about $228.7 million.Bank of America Chief Executive Officer (CEO) Brian Moynihan called Buffett "a great shareholder." 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.  In a regulatory fili ...

The Federal Reserve Board’s vice-chair of supervision, Michael Barr, on Tuesday, outlined proposed Basel regulations which, if approved, would roughly halve the additional capital that big banks would need to maintain to safeguard them in the event of financial crisis. The new plan requires banks to hold 9% of additional capital instead of 19% proposed in the initial plan.Barr announced that regulators would resubmit diluted drafts of the global banks' capital regulation and the so-called Basel Endgame rule ...

In this articleBACWarren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBCWarren Buffett's Berkshire Hathaway offloaded another chunk of Bank of America shares, bringing its total sales to more than $7 billion since mid-July and reducing its stake to 11%.The Omaha-based conglomerate shed a total of 5.8 million BofA shares in separate sales on Friday, Monday and Tuesday for almost $228.7 million at an average selling price of $39.45 per share, ac ...

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. It is my great, great pleasure to introduce Brian Moynihan, Chairman and CEO of Bank of America. And you guys are always going to talk about BFA, but I'd like ...

Key TakeawaysBank of America increased its U.S. minimum wage to $24 per hour.The bank has gradually increased its minimum pay since 2017, and plans to reach $25 by 2025.The U.S. Bureau of Labor Statistics expects bank teller employment to decline over the next several years. Bank of America (BAC) has raised its minimum wage to $24 an hour in the U.S., they announced Tuesday. The increase also applies to salaried positions, bringing the minimum annualized salary for the bank’s full-time U.S. employees to nea ...

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." The regulation establishes how banks with more than $100 billion in assets must calculate the amount of capital they need to set aside to cover any losses. Barr also noted there will be another capital rule for global banks.JPMorgan Chase & Co (NYSE:JPM) and Bank of America Corp (NYSE:BAC) shares are gapping lower today, with the former ...

Shares have performed well thanks to better-than-expected financial results.Shares of Bank of America (BAC 1.83%) have cruised higher this year, momentum that has continued from late 2023 on the backs of strong corporate results. But the company has yet to return to its previous highs.Should investors buy this top bank stock while it currently trades below $45 per share? Let's look at the positive and negative traits of Bank of America before deciding.Bank of America's durabilityBank of America's history go ...

The bank has committed to $25 per hour by 2025CHARLOTTE, N.C., Sept. 10, 2024 /PRNewswire/ -- Today, Bank of America announced that it has raised its U.S. minimum hourly wage to $24 per hour, the latest step in the company's commitment to $25 by 2025. With the increase, the minimum annualized salary for full-time employees in the U.S. will rise to nearly $50,000. The increase applies to all full-time and part-time hourly positions in the U.S.A national leaderThis move builds on the bank's history of being a ...