Bank of America CEO Says Buffett Has Been a Great Backer, Has Not Asked About Stock Sales
Buffett's Berkshire Hathaway, the biggest shareholder in BofA, has been trimming its stake in the U.S. lender, making total share sales since mid-July of nearly $7 billion. Berkshire holds a stake in Bank of America of about 11.1%, according to LSEG data. Moynihan said the market is absorbing Buffett's stock sale.