Bank of America is lower after Berkshire Hathaway sold 33.9 million shares
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 from its July 17, two-year high of $44.44, and is pacing for a fourth-straight daily loss. Shares still boast support from the 20-day moving average, however, and boast a 65.9% nine-month lead.
C is down 1.1% to trade at $64.46 at last check, after surging to a July 17, two-year peak of its own at $67.81. The equity now sports a 25.3% year-to-date lead, and a familiar floor at $64 looks ready to contain today's losses, with support also stemming from the 20-day moving average.
Despite its 43.4% year-over-year lead, FITB is 0.8% lower to trade at $40.68 at last glance. The stock is also fresh off a July 18, two-year high of $41.41, with new support seemingly forming at the $40 level.