5 Best Warren Buffett Stocks To Buy Now

2. Bank of America Corporation (NYSE:BAC)

A financial behemoth, Bank of America has upped its dividend for 8 consecutive years. Warren Buffett has long been a fan of Bank of America, as he initiated a stake in the company in the third quarter of 2017. At the end of June, Berkshire had a $31.4 billion stake in the company.

Bank of America (NYSE:BAC) is benefiting from hikes in interest rates, as evidenced by its strong Q3 results, which were also helped by robust global market revenue. Bank of America is the 17th most popular stock among the 895 hedge funds tracked by Insider Monkey as of the end of the second quarter.

Here is what Diamond Hill Capital Management specifically said about Bank of America Corporation (NYSE:BAC) in its Q2 2022 investor letter:

“Bank of America Corporation (NYSE:BAC) shares were weak in Q2 as the market became increasingly focused on the possibility of a near-term recession and the potential for credit losses along with current fee revenue pressures.”

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