Berkshire, based in Omaha, Nebraska, still owns shares of other banks, including Bank of America Corp, its largest common stock holding other than Apple Inc.Wells Fargo paid $3 billion in February 2020 to settle criminal and civil probes.
Last November, the U.S. Securities and Exchange Commission charged two former top Wells Fargo executives with misleading investors about its financial results. Wells Fargo remains under a February 2018 Federal Reserve directive barring asset growth until it makes sufficient improvements.
Shares of Wells Fargo closed Monday up 94 cents at $47.90. Although the price has more than doubled since October, it is 28% below its January 2018 peak.
(Reporting by Jonathan Stempel in New York; editing by Jonathan Oatis)
By Jonathan Stempel