These Are Now Buffett's 3 Favorite Banks

After another quarter of selling off bank stocks, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) and its legendary chairman and CEO, Warren Buffett, are clearly getting more selective in the sector. As a result, there's a new pecking order among Berkshire's bank investments.

By reducing its position in Wells Fargo from 237.6 million shares after the second quarter to 127.4 million shares at the end of the third, Berkshire has knocked the onetime favorite out of its top three bank holdings. But which banks have survived the cut?

With banks facing high credit costs and a lower revenue outlook in the ultra-low-rate environment, let's take a fresh look at Berkshire's three favorite banks at the end of September.

Source Fool.com