15 Best Cheap Stocks to Buy for 2025

4. Bank of America Corporation (NYSE:BAC)

Forward P/E Ratio as of January 15: 12.38

Number of Hedge Fund Investors: 98

Bank of America Corporation (NYSE:BAC) is one of the largest and most respected financial institutions in the world with a history of providing comprehensive financial services to individuals, businesses, and institutions. The bank is a global leader in consumer banking, wealth management, and investment banking.

Bank of America Corporation (NYSE:BAC) is continuously investing in technology and digital transformation. Over the past decade, the company has significantly reduced its workforce from around 300,000 to approximately 213,500, while simultaneously expanding its service offerings and improving operational efficiency. This has been achieved through the extensive use of automation and artificial intelligence. Erica, the company’s AI-powered virtual assistant has been a game-changer to save the equivalent of 3,000 full-time employees and handling an increasing number of customer interactions with high precision. Bank of America Corporation (NYSE:BAC) is also integrating AI into various aspects of its operations, from tech support to credit underwriting, to enhance customer experiences and operational efficiency.

Furthermore, Bank of America Corporation (NYSE:BAC) is focusing on core transactional banking, which includes maintaining a high percentage of primary accounts and increasing average balances. The company’s consumer base is also becoming more diverse, with a strong presence among younger demographics. Bank of America Corporation (NYSE:BAC) is also integrating technology and personalized services in wealth management, which is expected to further enhance customer satisfaction and drive market share gains.