10 Best Bank Penny Stocks to Buy According to Hedge Funds

8. Grupo Aval Acciones y Valores S.A. (NYSE:AVAL)

Share Price as of the close of January 3: $2.13

Number of Hedge Fund Holders: 6

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) is a Colombia-based holding company that primarily engages in the purchase and sale of stocks, bonds, and other securities of companies belonging to the financial sector.

The financial conglomerate operates through four commercial banks in Colombia. These include Banco de Bogota, Banco de Occidente, Banco Popular, and Banco AV Villas. It also owns Corficolombiana, the largest merchant bank in the country, and Porvenir, a major pensions and severance fund manager. The company is also present in Panama through the Banco de Bogotá.

On November 13, Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) announced financial results for the third quarter of 2024. Net income climbed to 415.7 billion Colombian pesos ($94.18 million), growing 103.4% sequentially and 541.4% year-over-year, driven by a high income from investments. Gross loans increased 4.3% from last year, while consolidated deposits also registered an 8.7% growth compared to Q3 2023.

The company launched TAC Aval in October, a feature enabling payment interoperability. A numerical key will be assigned to clients’ savings products in the bank, allowing instant payments between Aval accounts without sharing personal information.

During the first week of January 2025, Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) announced the payment of dividends for the month, following the approval received in the General Shareholders Meeting of March 2024. The decision reinforced the company’s financial stability and its commitment to delivering value to its shareholders.

According to Insider Monkey’s database for Q3 2024, 6 hedge funds held a stake in Grupo Aval Acciones y Valores S.A. (NYSE:AVAL). It is one of the best bank penny stocks to buy according to hedge funds.