|Bid||295,288.00 x 800|
|Ask||322,000.00 x 800|
|Day's Range||312,595.06 - 314,400.00|
|52 Week Range||279,410.00 - 335,109.00|
|Beta (3Y Monthly)||0.92|
|PE Ratio (TTM)||17.79|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||356,700.00|
Berkshire Hathaway has been a major market laggard in one of the greatest bull markets, leading a longtime fan of Warren Buffett to dump his holdings.
Berkshire Hathaway approached the Fed to increase its stake in Bank of America. The company added more Bank of America shares in the second quarter.
Brexit News Changing By the Hour As Clock Ticks Down, Again Brexit deal, or no Brexit deal, that is the question. Nobody knows the answer, but the news stories just keep coming, with every new one contradicting the last. The latest is that there is no deal, as assessments from unspecified political experts are “gloomy”. […]The post Market Morning: Brexit Back'n'Forth, Carrie Lam Booed Off Stage, Buffett Wants BofA, Balkman Blunders appeared first on Market Exclusive.
'Twas the night before earnings, and all through the house, not a conglomerate was stirring, except for Warren Buffett's Berkshire Hathaway , . Bloomberg News reported on Tuesday evening that Berkshire Hathaway had sought permission from the Federal Reserve to increase it's stake in Bank of America above the 10% threshold. This news has been well received by the marketplace, though the truth is that Berkshire already holds a 9.96% stake, and in filing this application with the Fed, Berkshire states the intention to invest passively while not trying "to force a change in structure or corporate structure" at Bank of America.
Bank of America posted stronger-than-expected third quarter earnings Wednesday as revenues from its investment banking business, as well as a modest increase in net interest income, drove bottom line gains.
Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, according to an application document provided by the Fed on Tuesday. Bloomberg first reported the application on Tuesday. Shares of BofA gained 3% after the report came out, dipping slightly to close at 2.02%.
BHE Canada, a unit of billionaire Warren Buffet's Berkshire Hathaway Energy, will start construction on a $200 million wind farm in southeast Alberta next year, the company said on Tuesday. The 117.6 megawatt (MW) Rattlesnake Ridge Wind project will produce enough energy to supply the equivalent of 79,000 homes, said BHE Canada, which is backed by Buffett's Omaha-based Berkshire Hathaway Inc. The project will be built without government subsidies and is being privately financed by BHE Canada through a combination of equity and debt.
BHE Canada, a unit of billionaire Warren Buffet's Berkshire Hathaway Energy, will start construction on a $200 million wind farm in southeast Alberta next year, the company said on Tuesday. The project will be built without government subsidies and is being privately financed by BHE Canada through a combination of equity and debt.
BHE Canada, a unit of Berkshire Hathaway Energy, said on Tuesday it will launch a $200 million wind farm in southeast Alberta next year. The 117.6 MW Rattlesnake Ridge Wind project, which is expected to begin generating energy in Dec. 2021, will produce enough to supply the equivalent of 79,000 homes, said BHE Canada, which is backed by Warren Buffett's Omaha-based Berkshire Hathaway. The project, constructed without government subsidies, is being privately financed by BHE Canada through a combination of equity and debt and developed by U.K.-based Renewable Energy Systems (RES).
(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. is seeking permission from the Federal Reserve to potentially increase its stake in Bank of America Corp. to more than 10%, a level that often triggers a regulatory review. The bank’s shares rallied.Berkshire, which disclosed in July that it had hit that threshold, filed an application with the Fed in recent weeks making a variety of assurances to show that it will passively invest in the bank, according to a copy of the application provided by the regulator.Berkshire “may decide to purchase additional shares of common stock of Bank of America based on its evaluation of the investment opportunity presented by such purchases,” the conglomerate wrote in the filing signed by Buffett, without specifying how many shares it might look to purchase.Buffett struck a deal eight years ago to invest $5 billion in Bank of America for preferred stock and warrants, helping shore up confidence in the lender as it faced losses tied to subprime mortgages. In 2017, the billionaire investor swapped the preferred shares for a $16 billion-plus common-stock holding. Bank of America now ranks as Berkshire’s second-largest equity bet, behind Apple Inc.Bank of America shares climbed as much as 3.8% after the news of the filing. They were up 2.7% at 1:37 p.m. in New York. The lender is set to report third-quarter results Wednesday.Buffett’s company said in the Fed filing that it doesn’t have any plans to sell Bank of America’s assets, merge it with any company or make any other significant change in its business strategy and corporate structure.“We have appreciated Berkshire’s ownership for the past seven-plus years,” Bank of America said in a statement. “Through our success, Berkshire and other long-term shareholders have benefited. We look forward to Berkshire’s support as we continue to drive responsible growth at Bank of America.”Berkshire said as of July 17 that the holding was 950 million shares, a stake that would be valued at more than $27 billion as of Monday’s close. While Berkshire had been building its stake in Bank of America in recent years, the bank’s stock repurchases also helped push the Omaha, Nebraska-based conglomerate’s stake above the 10% level, according to the July regulatory filing.U.S. regulators tend to review relationships between investors and banks in which a shareholder could be viewed as having control over a lender. According to proxy statements and quarterly regulatory filings, the only other investor in one of the six largest U.S. banks that tops the 10% threshold is Mitsubishi UFJ Financial Group Inc.’s 24% holding in Morgan Stanley, a remnant of the financial crisis.With about $200 billion of total equity investments to manage, it’s not the first time Buffett has bumped up against the ownership threshold. In 2016, he ran up against the 10% level with another bank, Wells Fargo & Co, as it repurchased shares. Berkshire applied to the Fed, but later said it would cut its Wells Fargo stake because the central bank said the larger stake would limit Berkshire’s ability to do business with the lender.With Berkshire’s American Express Co. stake, Buffett agreed in the 1990s to be a passive shareholder and later received approval to increase that investment to as much as 24.99%, a level he has yet to reach.The rules that determine whether an investor is deemed to have control over a bank may soon change. The Fed has submitted a proposal to clarify the factors and thresholds that determine control.(Adds BofA comment in seventh paragraph, updates share price in fifth.)\--With assistance from Lananh Nguyen, Daniel Taub and David Scheer.To contact the reporter on this story: Katherine Chiglinsky in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Dan ReichlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bloomberg first reported the application on Tuesday. Shares of BofA gained 3% after the report came out, dipping slightly to close at 2.02%. Berkshire, which has a 9.96% stake in BofA, filed an application with the Fed this month, assuring the regulator that it will passively invest in the bank and will not try to force a change in strategy or corporate structure.
Yahoo Finance Editor-in-Chief Andy Serwer sits down with former UN Ambassador and National Security Advisor to President Obama, Susan Rice.
Warren Buffett’s Berkshire Hathaway is reportedly seeking permission from the Federal Reserve to boost its stake in Bank of America above the 10% level. Yahoo Finance’s Myles Udland, Brian Sozzi and Dan Roberts discuss on The Final Round.