Bank of America (BAC) shares rose 1.15% to $53.34 following Federal Reserve minutes that signaled confidence in a "soft landing." The stock showed resilience despite news that Berkshire Hathaway reduced its stake in the bank during the fourth quarter.
- Morningstar analysts highlighted BAC's expanding retail deposit share and its award-winning CashPro digital platform as key drivers for its leading franchise.
- The firm continues to navigate challenges related to long-duration securities while maintaining a strong market position.
- The recent gains helped the stock recover from news regarding the stake reduction, which occurred prior to Warren Buffett’s retirement.