After Warren Buffett’s holding company announced a stake in Capital One Financial Corp (COF.N), shares jumped in premarket trade on Tuesday.
If gains persist, the bank’s shares, up 7% at $95.37, would open at their highest in almost two weeks.
Berkshire Hathaway (BRKa.N) disclosed a 9.92 million share interest in the company on Monday. The March 31 closing price valued the shareholding at $954 million.
As of Monday, Capital One shares had lost 8% this month due to First Republic Bank’s failure.
Capital One is McLean, Virginia’s major auto lender and commercial bank.
Western Alliance Bancorp (WAL.N), Comerica Inc (CMA.N), and KeyCorp (KEY.N) climbed between 1% and 3% as investors focused on the U.S. debt ceiling battle rather than regional banking issues.
PacWest Bancorp’s (PACW.O) climb stalled. Shares fell roughly 2% premarket after rising 18% on Monday.
