ProArtWork Introduction The prospect of interest rate declines later this year has left income investors searching for yield. Among big banks, there are several preferred shares that are offering competitive yields. Bank of America, one of the country’s largest banks, offers 13 different preferred shares, with yields of up to 7%. In the past, I’ve encouraged investors to reach for yield, even with Bank of America when they offered a 6.55% coupon bond. Unfortunately, the higher yield is not always better ...

Bank stocks just kicked off another earnings season, making way for giants in other industries to announce their quarterly results. Now that the dust has settled within the financial services sector, let's take a moment to check in with Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), and Fifth Third Bancorp (NASDAQ:FITB).BAC was last seen down 1.4% to trade at $42.33, following news that Berkshire Hathaway (BRK) sold 33.9 million shares for roughly $1.5 billion. The security is taking a breather fr ...

Key TakeawaysWarren Buffett's Berkshire Hathaway reduced its stake in Bank of America by 33.9 million shares over a three-day period last week.The selloff reduced the company's holdings by about $1.5 billion, although it continues to have nearly 1 billion shares of the bank in its portfolio.Berkshire continues to own almost a 13% stake in Bank of America. Bank of America (BAC) shares fell in intraday trading Monday after Warren Buffett’s Berkshire Hathaway (BRK.A) cut its stake in the bank by $1.5 billion. ...

In what can be considered a surprise move, Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) has significantly reduced its stake in a stock it has rarely touched in recent years.According to regulatory filings, the conglomerate sold 33.9 million shares of Bank of America (NYSE: BAC) over three days for nearly $1.5 billion at an average price of $43.56 per share. Berkshire Hathaway SEC filing for BAC stock sale. Source: SECDespite this substantial sale, Bank of America remains Berkshire Hathaway’s second-lar ...

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.Berkshire Hathaway trimmed its gigantic Bank of America holding for the first time in four and a half years following the bank's strong 2024 run.Warren Buffett's conglomerate sold 33.9 million shares of Bank of America shares for almost $1.5 billion in separate sales on Wednesday, Thursday, and Friday at an average selling price of $43.56, a regulatory filing showed ...

ProArtWorkLast week we saw better-than-expected results from banks including Bank of America Corporation (NYSE:BAC) which, besides beating profit estimates, is forecasting growth in its net interest income, despite projecting that the central bank would lower interest rates three times in 2024. I think that Bank of America continues to make a robust value proposition here, particularly because of its net interest income forecast, and the U.S. economy is also doing quite well right now, with receding inf ...

The blazing rally in shares of this megabank can keep going.Shares of Bank of America (BAC -0.26%) surged following the release of its latest quarterly earnings. The megabank beat expectations with results benefiting from a resilient economic backdrop and improving credit conditions. The stock is up an impressive 31% year to date, climbing back to its highest level since early 2022.The positive headlines are encouraging, but are they enough to keep the rally in Bank of America stock going? Here's what inves ...

The banking giant reported impressive second-quarter results and an even more optimistic forecast.Bank of America (BAC -0.26%) has performed extremely well since bottoming out in late 2023, as investor sentiment has certainly shifted when it comes to the banking industry. In this short video, I'll give a rundown of the bank's latest numbers and explain why it could still be worth a look for long-term investors.*Stock prices used were the morning prices of July 18, 2024. The video was published on July 19, 2 ...

CHARLOTTE, N.C., July 19, 2024 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock:Series of Preferred Stock Dividend per Share or Depositary Share1 Record Date Payment Date Floating Rate Non-CumulativePreferred Stock, Series E $0.37912 July 31 August 15 Floating Rate Non-Cumulative Preferred Stock, Series F $1,533.54544 August 30 September 16 Adjusta ...

One of the biggest American lenders, Bank of America (BAC) , released its second-quarter 2024 results earlier this week. Since then, the stock has gained 2.7% to $43.01 and is trading near its two-year high of $44.44. Even before the release of its quarterly numbers, the stock performed exceedingly well. It was among the top five banks that outperformed the S&P 500 Index in the first half of 2024.This year, Bank of America has gained 28.5% compared with the S&P 500 Index’s growth of 16.2%. In 2023, the stoc ...