10 Most Profitable Value Stocks to Buy Now

2. Bank of America Corp. (NYSE:BAC)

TTM Net Income as of March 13: $27.132 billion

Forward P/E Ratio as of March 13: 10.79

Number of Hedge Fund Holders: 113

Bank of America Corp. (NYSE:BAC) is a financial institution that operates through four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. It provides banking, investment, lending, and risk management solutions.

The firm’s Consumer Banking division is a major profit center and generated nearly $11 billion in 2024, which represented 40% of the company’s total earnings. In the Q4 2024 alone, revenue for Consumer Banking reached $10.6 billion. The division secured over 200,000 net new checking accounts and continued a six-year streak of quarterly growth.

Digital adoption and customer satisfaction scores at Bank of America Corp. (NYSE:BAC) reached record highs. The bank is focused on continued growth, investing in digital capabilities, and maintaining disciplined deposit pricing. It’s also expecting continued growth in consumer loan categories.

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.”