Top 12 Stocks to Buy According to Citadel Investment Group

3. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders as of Q4: 113

Citadel Investment Group’s Equity Stake: $821.37 Million 

Bank of America Corporation (NYSE:BAC) is a major global financial institution, providing a wide range of banking, investment management, and financial services to individuals, businesses, and governments. Headquartered in Charlotte, North Carolina, with key investment banking operations in Manhattan, the company operates in over 35 countries and facilitates transactions in more than 140 currencies. With a strong foothold in both retail and commercial banking, the company continues to expand its customer base while maintaining financial stability and a commitment to innovation.

In Q4 2024, the bank surpassed expectations with $25.3 billion in revenue, reflecting a 15.2% year-over-year increase and outperforming analyst projections by $170 million. Net income more than doubled to $6.7 billion ($0.82 per share), highlighting its robust financial performance. Additionally, Bank of America Corporation (NYSE:BAC) expanded its consumer banking segment by adding 213,000 new checking accounts, marking its sixth consecutive year of growth. With $953 billion in liquidity and $2 billion returned to shareholders through dividends, Bank of America demonstrates strong financial health and a commitment to investor returns. Its consistent expansion, strategic investments in digital banking, and global reach position it as a top stock to buy.

Bank of America Corporation (NYSE:BAC) remains a strong investment choice due to its financial stability, consistent growth, and strategic investments in digital banking and global operations. Recently, the bank adjusted its diversity initiatives in response to new regulations under President Donald Trump’s administration, removing references to diversity hiring goals and altering its hiring policies. While several companies have revised their stance on diversity, CEO Brian Moynihan emphasized that the bank remains committed to providing opportunities for all employees. Meanwhile, investor confidence in Bank of America remains high, as evidenced by Citadel Investment Group’s significant stake increase, boosting its holdings by 338% in Q4 2024. This substantial investment underscores the bank’s strong market position, making it an attractive long-term investment option.