10 Best Stocks to Buy Before Spring

3. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 113

Bank of America Corporation (NYSE:BAC) is a financial holding corporation that provides a wide range of services such as savings accounts, deposits, wealth and cash management, investment funds, online banking, and other financial products.

The company recorded solid profitability in the fourth quarter of 2024, with revenues of $25.3 billion, up from $22 billion in the same time the year before. Net income more than quadrupled to $6.7 billion, up from $3.1 billion the year before.

Truist Securities began coverage of Bank of America Corporation (NYSE:BAC) on January 7, rating the company Buy and setting a price target of $52. According to the firm’s estimates, Bank of America is poised for growth, with net interest income (NII) predicted to increase by 4-5% and retail deposit growth to restart. This expected outcome marks a reversal of what was previously referred to be a “lost year” for positive operational leverage.