Warren Buffett says he will own Bank of America stock for a 'long, long, long time'

• Warren Buffett says he's optimistic about Bank of America.
• "Bank of America has done a sensational job under Brian Moynihan," he tells CNBC.

Warren Buffett said Tuesday he's optimistic about Bank of America.

Asked during a CNBC interview which bank stock was his favorite, the billionaire chairman and CEO of replied:

"What's your favorite child?"

"Bank of America has done a sensational job under Brian Moynihan," Buffett added on "Squawk Box."

Berkshire is the largest shareholder of Bank of America, according to FactSet.

"We will be holders of BofA stock for a long, long, long time," Buffett added.

Berkshire Hathaway has major stakes in several other financial firms. including Bank of New York Mellon, Wells Fargo and Synchrony Financial.

Buffett joined CNBC from Omaha, Nebraska — home of Berkshire and where Purpose Built Communities was holding its annual conference.