Berkshire Hathaway, led by Warren Buffett (Trades, Portfolio), has disclosed through recent regulatory filings that it sold $383 million worth of Bank of America shares over the past three trading days. This marks the 14th round of Bank of America stock sales by Berkshire since mid-July, with total proceeds exceeding $10 billion.Despite these sales, Berkshire Hathaway still retains approximately a 10.1% stake in Bank of America, valued at around $31.4 billion. ...

Buffett has been preferring this high-yield opportunity for a couple of years now.Warren Buffett is one of the most widely respected investors in the world. And there's a good reason. With nearly 70 years investing in the public eye, he's produced incredible returns for anyone willing to invest alongside him. He recently saw the value of Berkshire Hathaway (BRK.A -2.00%) (BRK.B -1.83%) surpass $1 trillion. It's come a long way from the $22 million company Buffett took over in 1965, largely on the back of Bu ...

Earnings season is set to kick into high gear at the end of the week, and amongst the swath of companies set to release their quarterly results are several major financial firms. The banking sector tends to outperform in the fourth quarter, with the Financial Select Sector SPDR Fund (XLF) taking second place on Schaeffer's Senior Quantitative Analyst Rocky White's list of exchange-traded funds (ETF) that outperformed during the quarter over the last 10 years.With that in mind, we're going to take a quick lo ...

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CHARLOTTE, N.C., Oct. 4, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on October 22, 2024, all $2,000,000,000 principal amount outstanding of its 2.456% Fixed/Floating Rate Senior Notes, due October 2025 (CUSIP No. 06051GHW2) (the "Notes"), at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date of October 22, 2024.  Interest on the Notes will cease to accrue on the redemption da ...

Recent data from EPFR Global reveals that global emerging market equity funds saw an impressive $15.5 billion inflow, marking the second-highest on record. This substantial investment included $13.9 billion directed towards the Chinese stock market, achieving a historic second-highest inflow as well.For the past 18 weeks, emerging market equity funds have continually attracted new investments. Year-to-date, the influx of capital into the Chinese market has reached $114 billion. In contrast, India has seen a ...

Warren Buffett and his Berkshire Hathaway (NYSE: BRK.A, BRK.B) offloaded another $337.9 million worth of Bank of America (NYSE: BAC) shares in three separate sales between September 30 and October 2.The first—and largest—sale occurred on the final day of the third quarter (Q3) of 2024. It witnessed the selling of 4.95 million at an average price of about $39.61, for a total value of $197 million.The two subsequent divestments – on the first and second day of October – were substantially smaller, at about 1. ...

Core Viewpoint - Warren Buffett, known for his buy-and-hold strategy, also engages in opportunistic investments, particularly in bank stocks like Bank of America, which has shown significant recovery since his investment in 2011 [1][2][3] Group 1: Bank of America - Bank of America faced severe challenges during the Great Recession, leading to a drastic cut in its dividend [2] - Buffett's investment in Bank of America in 2011 provided a financial cushion and signaled confidence in the bank's turnaround [2] - The bank's business and stock have rebounded significantly since Buffett's initial investment [2] Group 2: New York Community Bancorp - New York Community Bancorp acquired parts of Signature Bank during the banking crisis of early 2023, significantly increasing its size [4] - The bank faced challenges, including cutting its dividend to a penny per share and admitting to troubled large loans [5] - A $1 billion investment from institutional investors is expected to help stabilize its balance sheet and facilitate a potential turnaround [5] Group 3: Toronto-Dominion Bank - Toronto-Dominion Bank is dealing with regulatory issues related to weak internal controls around money laundering, which has affected its growth plans in the U.S. [6] - Despite these challenges, the bank has maintained its dividend and is expected to resolve its issues by the end of 2024 [6][7] - The stock price weakness has resulted in a higher dividend yield of approximately 4.7%, making it an attractive option for investors [7] Group 4: Bank of Nova Scotia and KeyCorp - Bank of Nova Scotia has agreed to buy roughly 15% of KeyCorp, marking a strategic shift towards the U.S. market after previous challenges in Latin America [8][9] - KeyCorp will benefit from the cash infusion from Scotiabank, which will help improve its operations [9] - Both banks offer attractive dividend yields of nearly 5% for KeyCorp and 5.7% for Scotiabank, providing income while they work on operational improvements [9]

Overview of the Recent Transaction On October 2, 2024, Warren Buffett (Trades, Portfolio)'s firm made a notable adjustment in its investment portfolio by reducing its stake in Bank of America Corp (BAC, Financial). The firm sold 8,547,947 shares at a price of $39.53 each. Following this transaction, the firm still holds a substantial number of shares, totaling 794,120,913, which represents a 10.23% stake in the company. This move has adjusted the firm's position in the financial sector, specifically impacti ...

Investor Warren Buffett (Trades, Portfolio)'s activities in the capital market are closely watched as indicators of both a company's and the U.S. economy's prospects. Recently, Buffett has significantly reduced his holdings in Bank of America (BAC, Financial), sparking market discussions. Berkshire Hathaway, Buffett's company, disclosed in a filing with the U.S. Securities and Exchange Commission that it further reduced its stake in Bank of America by $863 million over three trading days, now holding 10.5% ...