5 Best 52-Week Low Stocks To Buy Now

1. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 100

This March, Odeon Capital analyst Dick Bove revised his rating on Bank of America Corporation (NYSE:BAC) to Hold from Buy and reiterated his $35.20 price target. As of March 14, Bank of America Corporation (NYSE:BAC) has lost 29.37% over the past 12 months and is trading at a PE multiple of 9.72.

At the end of Q4 2022, 100 hedge funds held stakes in Bank of America Corporation (NYSE:BAC). The total value of these stakes amounted to $37.56 billion, up from $35.61 billion in the preceding quarter with 97 positions. The hedge fund sentiment for Bank of America Corporation (NYSE:BAC) is positive and the stock is the best 52-week low stock to buy now according to hedge funds.

As of December 31, Warren Buffett’s Berkshire Hathaway is the leading investor in Bank of America Corporation (NYSE:BAC) and has a position worth $33.45 billion in the company.

Here is what Ariel Investments had to say about Bank of America Corporation (NYSE:BAC) in its Q3 2022 investor letter:

“We initiated three new positions in the quarter. We added leading financial institution Bank of America Corporation (NYSE:BAC) which serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. The current company was formed through various mergers including NationsBank, FleetBoston, US Trust, Countrywide Financial, and Merrill Lynch with the legacy commercial bank to form a national banking powerhouse and bulge bracket investment firm. As one of the ‘Big Four’ U.S. banks it enjoys scale driven cost advantages and economies of scale which provide meaningful competitive advantages and potential for strong returns in the largely commoditized banking industry. A survivor of the financial crisis, BAC has emerged with a solid capital base and stands to benefit from a rising interest rate environment.”

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