10 Best Stocks Under $50 to Buy Right Now

1. Bank of America Corporation (NYSE:BAC)

Share Price as of February 20: $46.01

Number of Hedge Fund Holders: 113

Bank of America Corporation (NYSE:BAC) is a financial holding company that offers a variety of services, including savings accounts, deposits, wealth and cash management, investment funds, internet banking, and other financial products.

On January 7, Truist Securities initiated coverage of Bank of America Corporation (NYSE:BAC), giving a Buy rating and a $52 price target to the stock. According to the firm’s estimate, Bank of America is positioned for expansion, with net interest income (NII) expected to rise by 4-5% and retail deposit growth to resume. This predicted result represents a reversal from what was previously termed as a “lost year” for positive operational leverage.

Bank of America Corporation (NYSE:BAC) announced strong profitability for the fourth quarter of 2024, with revenues of $25.3 billion, up from $22 billion in the same quarter the previous year. Net income more than quadrupled to $6.7 billion, up from $3.1 billion the year before. The bank also extended its client base, opening 213,000 new consumer checking accounts, marking the sixth consecutive year of quarterly growth.

While we acknowledge the potential of BAC as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BAC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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