This share sell-off has amounted to over $7 billion worth of stock since mid-July, according to FactSet data. The latest disclosed sale involved Berkshire Hathaway, Buffett's multinational conglomerate, trimming 5.8 million shares of the lender from September 6th to 10th, valued at a staggering $228.7 million.

Buffett's stake in Bank of America now stands at just over 11%, a significant decrease from its peak value on July 16th, when shares reached an impressive $44.13 apiece. When questioned about Buffett's strategy at the Barclays Global Financial Services conference on Tuesday, Bank of America CEO Brian Moynihan stated that he and his team were uncertain about the investor's plan since they were unable to seek clarification directly from him.

Despite the uncertainty around Buffett's actions, Moynihan commended Buffett's past support. He acknowledged Buffett as a "great" investor who played a pivotal role in stabilizing the bank when it faced challenges. Moynihan also reassured investors by mentioning that the market has been able to absorb the shares sold by Buffett, and the bank itself is engaging in stock buybacks.

Bank of America shares have seen a positive trend this year, rising approximately 16% thus far and closing at $39.28 on Tuesday. It is worth noting that Berkshire Hathaway itself achieved a significant milestone last month, becoming the first non-technology U.S. company to reach a $1 trillion market capitalization. As of Tuesday, Berkshire Hathaway's market value stands at $988.83 billion.

While the motives behind Buffett's recent share sell-off remain unknown, the overall market response has been relatively unaffected. Bank of America continues to operate smoothly, and its robust performance this year, along with Berkshire Hathaway's impressive returns of nearly 27% compared to the S&P 500's 16%, suggests that investors remain confident in the bank's long-term prospects.

Only time will tell if Buffett's divestment from Bank of America is part of a deliberate strategic move or simply a reallocation of assets. Regardless, his actions and their impact on both the bank and the market will undoubtedly be closely watched by investors and industry experts alike.