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Legendary investor Warren Buffett-owned Berkshire Hathaway has trimmed its stake in Bank of America for the first time since 2019 over six trading sessions. Despite the stake reduction, retail investors have refrained from turning bearish on the stock with the sentiment meter trending in the neutral zone (53/100) supported by high message volume.<figure class="image"><img style="aspect-ratio:1586/460;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_25_at_11_14_56_AM_17542e5de1.png" alt="Retail sentiment trends in the neutral territory for Bank of America" width="1586" height="460"><figcaption>Retail sentiment trends in the neutral territory for Bank of America</figcaption></figure>The sale of shares took place from Wednesday July 17 through July 24, according to filings on the Securities and Exchange Commission (SEC) website. Last week, Berkshire sold roughly 33.89 million shares of the lender at prices ranging from $43.13 to $44.07. This week, the firm sold another 18.89 million shares at prices ranging from $42.39 to $42.56.In total, Berkshire sold 52.89 million shares of the lender in six sessions that amounts to approximately $2.30 billion worth of stock. However, Berkshire still holds over 980 million shares of the bank, worth $41 billion at current prices. That’s second only to its stake in Apple which is worth a whopping $172 billion.Notably, the share sale comes in the wake of a decent rally registered by Bank of America stock this year, having gained over 23% on a year-to-date (YTD) basis. The lender, too, has been doing well on its operational metrics. Last week, it announced an upbeat set of earnings that topped analyst estimates on multiple counts. The bank reported a revenue of $25.40 billion during the quarter which came in higher than a Street estimate of $25.22 billion. Earnings per share came in at 83 cents as compared to an estimate of 80 cents.But that’s not all. The bank has been in the news lately after it increased its common stock dividend by 8% to $0.26 per share. The Board also authorized a new $25 billion common stock repurchase program, effective August 1, 2024, to replace the company’s current program, which will expire on that date.Stocktwits users are chatting about the buyback and the dividend hike, but some aren’t optimistic about the stock post Berkshire’s selling. A user named ‘FOTIKRR’ believes the stock could fall below the $30 mark and Buffett’s stake reduction in the lender is a precursor for a downward move in the stock and the broader financial sector.<figure class="image"><a href="https://stocktwits.com/FOTIKRR/message/580483338"><img style="aspect-ratio:1572/648;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_25_at_11_16_53_AM_a736322b3a.png" alt="Stocktwits user FOTIKRR's post on Bank of America" width="1572" height="648"></a><figcaption>Stocktwits user FOTIKRR's post on Bank of America</figcaption></figure>Photo Courtesy: Bank of America website

Warren Buffett Unloads Bank of America: How Retail Investors Reacted

Retail investors are uncertain about the stock’s fate given that Buffett’s stake reduction comes amid Bank of America’s dividend hike and a $25 billion buyback.

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After major banks kickstarted the earnings season with upbeat sets of earnings, Truist Financial Corp and Fifth Third Bancorp are now attracting retail interest following their latest quarterly results announcements. Here’s a look at how these lenders performed during the quarter and how retail investors are perceiving the numbers:1. Truist Financial Corp: The bank’s second quarter earnings topped analyst estimates with adjusted revenue coming in at $5.02 billion as compared to a Street estimate of $4.78 billion. Earnings per share (EPS) for the quarter stood at $0.91 as compared to an estimate of $0.82. Net interest income, the difference between interest earned and interest expended, came in at $3.58 billion, slightly lower than the $3.66 billion recorded during the same quarter a year ago. Net interest margin (NIM) improved to 3.03% compared to 2.90% in Q2 of 2023. In line with the performance of other Wall Street banks, investment banking and trading income increased 35% YoY to $286 million during the quarter.However, what appeared to have disappointed investors is the 32% fall in the bank’s net income at $920 million. Also, the bank reported securities losses of $6.70 billion ($5.10 billion after-tax), or $3.80 per share, from the strategic balance sheet repositioning of a portion of the available-for-sale investment securities portfolio. Following the announcement, retail sentiment on Stocktwits dipped into the bearish territory (26/100) supported by extremely high message volume.<figure class="image"><img style="aspect-ratio:789/219;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_22_at_10_31_49_AM_2d22607610.png" alt="Retail sentiment trends in bearish territory for Truist Financial Corp following earnings" width="789" height="219"><figcaption>Retail sentiment trends in bearish territory for Truist Financial Corp following earnings announcement</figcaption></figure>2. Fifth Third Bancorp: The lender, which is one of the largest banks in mid-western US, reported a 5% year-over-year (YoY) decline in its GAAP net interest income at $1.39 billion during the second quarter. Earnings per share came in flat at $0.81 but missed a Street estimate by four cents. Net interest margin fell to 2.88% in Q2 as compared to 3.10% in the same period a year ago.However, the bank said this is the first quarter that witnessed sequential NII growth since 2022. For the third quarter, the bank expects a sequential improvement of about 2% in its NII and a 1-2% rise in its non-interest income as well. Meanwhile, a DA Davidson analyst raised the target price on the stock to $42 from the previous $39 while maintaining a ‘Neutral’ stance on the stock. Following the announcements, retail sentiment was trending in the bullish territory (73/100), supported by extremely high chatter.<figure class="image"><img style="aspect-ratio:794/223;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_22_at_10_32_59_AM_bac2bb303b.png" alt="Retail sentiment trends in the bullish territory for Fifth Third Bancorp" width="794" height="223"><figcaption>Retail sentiment trends in the bullish territory for Fifth Third Bancorp</figcaption></figure>&nbsp;

Retail Investors Have A Completely Different Take On Truist Financial Corp And Fifth Third Bancorp Post Earnings

Retail sentiment around Truist dipped into the bearish territory (26/100) following its earnings announcement. 

Retail sentiment around Truist dipped into the bearish territory (26/100) following its earnings announcement. However, investors appeared enthused with the numbers announced by Fifth Third Bancorp with the sentiment meter trending in the bullish zone (73/100).

Invesco Capital Management LLC - Invesco KBW Bank ETF

Volume	386,964.00
52-Wk High	$59.24
52-Wk Low	$36.51

KBWB Invesco Capital Management LLC - Invesco KBW Bank ETF

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