10 Best Warren Buffett Stocks to Buy Right Now

5. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Investors: 113  

Bank of America Corporation (NYSE:BAC) is an American financial services corporation that provides its customers with a variety of connected goods and services. Offering millions of consumers a variety of financial services, including checking accounts, credit cards, mortgages, and loans, the corporation has a significant presence in the retail banking market. While Merrill and BofA Securities, its investment banking and asset management departments, offer trading, financial planning, and consulting services, its innovative digital banking platform improves accessibility.

Bank of America Corporation (NYSE:BAC) announced strong financial results in the fourth quarter of 2024, as revenue climbed to $25.3 billion from $22 billion in the same time the year before. Net income jumped from $3.1 billion to $6.7 billion, more than double from the same period last year. Along with expanding its clientele, the business opened 213,000 new consumer checking accounts, continuing its six-year run of quarterly growth. Furthermore, it paid dividends to shareholders totaling $2 billion.

Bank of America Corporation (NYSE:BAC) declared that Johnbull Okpara will succeed Rudolf A. Bless as Chief Accounting Officer, starting March 1, 2025. Prior to joining the company in November 2024, Mr. Okpara held important roles at Morgan Stanley and Citigroup Inc. It is believed that his joining will contribute a wealth of knowledge to the position, which could affect the strategic planning and financial operations of the business.