BofA dips after Buffett-led Berkshire once again trims stake
** Shares of the second largest U.S. lender Bank of America BAC.N fall ~0.4% to $40.72 premarket
** Berkshire Hathaway BRKa.N, led by billionaire Warren Buffett, disclosed late on Thursday it had sold about 22.27 million shares of the bank for roughly $896 mln
** The latest sales completed between Sept. 17 and Sept. 19, take Berkshire's total sales of BofA stock since July to more than $8 bln
** "He has been a great investor for our company, stabilized our company," BofA CEO Brian Moynihan said about Buffett during an investor conference in New York. "I don't know what exactly he is doing because frankly, we can't ask."
** Berkshire is still BofA's largest shareholder but its stake is nearing the size of Vanguard Group's; Berkshire currently owns a roughly 10.8% stake in the lender, per LSEG
** Buffett is required to regularly report sales until the stake falls below 10% per regulatory requirements
** As of last close, BofA up ~21.4% YTD, while the S&P 500 .SPX has gained ~20% over the same period
Reporting by Manya Saini in Bengaluru
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