Berkshire took a new stake in Citigroup ( C 1.88%) in 2022 and the stock currently makes up 1.5% of Berkshire's portfolio. Citigroup has far and away been the worst-performing large U.S. bank stock since the Great Recession and many investors have ditched the stock out of frustration.

Bank of America is set to award stock to most of its global employees for the eighth time since 2017, following a robust performance by the second-largest U.S. lender in 2024, according to an internal memo seen by Reuters on Friday.

Bank of America allocates $1B in restricted stock pool for workforce, aiming to retain talent, boost profitability, and contain expenses.

Bank of America Corporation (NYSE:BAC), one of the world's largest financial institutions, finds itself at a critical juncture as it navigates a complex economic landscape. With a precise market capitalization of $353.