10 Best Strong Buy Stocks To Buy Right Now

5. Bank of America Corporation (NYSE:BAC)

Analyst Upside: 35.20%

Number of Hedge Fund Holders: 113

Bank of America Corporation (NYSE:BAC) is a bank and financial holding company that operates in the Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, and Global Markets segments. The company boasts a wide economic moat and reliable competitive market advantages that reduce its chances of operation disruption. Bank of America Corporation (NYSE:BAC) also has a massive scale, generating $102 billion in revenue in 2024 and ending the year with $3.3 trillion in assets.

The company also has solid operations. Its fiscal Q4 2024 revenue surpassed expectations, reflecting a 15.2% year-over-year increase and outperforming analyst projections by $170 million. Net income also more than doubled to $6.7 billion. In addition, 2024 marked Bank of America Corporation’s (NYSE:BAC) sixth consecutive year of growth, expanding its consumer banking segment by adding 213,000 new checking accounts.

Investor confidence in the company is also high. This is corroborated by Citadel Investment Group’s significant stake increase, which increased its holdings by 338% in Q4 2024. Diamond Hill Large Cap Strategy stated the following regarding Bank of America Corporation (NYSE:BAC) in its Q2 2024 investor letter:

“Other top contributors in Q2 included Bank of America Corporation (NYSE:BAC) and Extra Space Storage. Shares of financial services company Bank of America rose in the quarter as it looks increasingly likely net interest income will inflect and begin growing again in 2024’s back half and into 2025.”