Is Bank of America Corp. (NYSE:BAC) the Best Stock Under $100 to Buy According to Hedge Funds?
Bank of America Corp. (NYSE:BAC) is one of the top stocks under $100 to buy according to hedge funds. The bank provides a range of financial products and services for various clients, including individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments. With a share price of $36.92 as of April 22 and 113 hedge fund holders, Bank of America is a popular choice among investors.
In a recent analyst report, Truist Financial analyst John McDonald CFA maintained a Buy rating on the stock with a $50 price target. The bank’s position as the second-largest bank in the developed world and the third-largest branch network in the US gives it a strong competitive advantage. With 86% of its revenue coming from the US, Bank of America is well-positioned to benefit from the current economic environment.
In Q1 2025, the bank’s Global Markets segment saw a significant increase in net income, with revenue excluding DVA growing by 10%. Equities and FIC were the main drivers of this growth, benefiting from increased client activity during market volatility. Hardman Johnston Global Equity Strategy also highlighted the bank’s strong position in the market, citing its diversified business model and opportunities for growth in retail, wealth management, and investment banking.
Overall, Bank of America ranks 4th on the list of the best stocks under $100 to buy according to hedge funds. While the bank shows growth potential, there are also promising opportunities in AI stocks that could deliver high returns in a shorter time frame. Investors looking for AI stocks with significant growth potential may want to explore other options in the market.
In conclusion, Bank of America Corp. is a solid choice for investors looking for a reliable and established financial institution. However, it’s essential to consider other investment opportunities, especially in the AI sector, to diversify and maximize returns. For more insights on top investment opportunities, continue reading our articles on the best AI stocks and stocks recommended by billionaires.
