Goldman Sachs Bank Stocks: Top 5 Stock Picks

2. Bank of America Corporation (NYSE:BAC)

Goldman Sachs’ Stake Value: $944,620,987

Number of Hedge Fund Holders: 91

Bank of America Corporation (NYSE:BAC) is one of the top bank stocks from the Goldman Sachs portfolio. Securities filings for Q1 2023 reveal that Goldman Sachs held 33 million shares of Bank of America Corporation (NYSE:BAC) worth $944.60 million, representing 0.20% of the total holdings. 

On July 29, Bank of America Corporation (NYSE:BAC) declared a $0.24 per share quarterly dividend, a 9.1% increase from its prior dividend of $0.22. The dividend is payable on September 29, to shareholders of record on September 1. 

According to Insider Monkey’s first quarter database, Bank of America Corporation (NYSE:BAC) was part of 91 hedge fund portfolios, compared to 100 in the earlier quarter. Warren Buffett’s Berkshire Hathaway is the leading stakeholder of the company, with 1.03 million shares valued at $29.5 billion. 

ClearBridge Large Cap Value Strategy made the following comment about Bank of America Corporation (NYSE:BAC) in its first quarter 2023 investor letter:

“Our quality bias has always led us to gravitate toward banks with strong and diverse deposit bases; those we own tend to be the larger players, which we also expect to be the biggest beneficiaries from a flight to safety in terms of deposits. JPMorgan Chase comes to mind especially here, but so does Bank of America Corporation (NYSE:BAC) despite its weakness in March, as well as U.S. Bancorp, to which we added opportunistically in the quarter.”