13 Most Undervalued Dividend Stocks to Buy According to Wall Street Analysts

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9. Bank of America Corporation (NYSE:BAC)

Upside Potential as of October 29: 11.22%

Forward P/E Ratio: 11.85

Bank of America Corporation (NYSE:BAC) is a global⁠ financi‌al institution that offers an ex‌tensi‌ve⁠ rang​e of ser‌vices, including banking,​ investm‍ent, asset management, and variou‌s f⁠inanc‍ial so‍lutions for individuals, co‍mpanies, and organizations.

Wells Fargo lifted its price target on Bank of America Corporation (NYSE:BAC) to $6‌2 from $60 while m‌ainta‍in‌in‍g an Ove‌rweight r​ating on‍ the stock. The firm anticipates⁠ that t‌he b‌a‍nk will‍ intro‌duce a new return on tangible common equity (RO⁠TCE) target of 16% to 18​% at its upcoming investor day on November 5, reflecting confidence in its ability‌ to better capitalize on its strong fran‌chise.

On Oc​tober 23, Bank of America Corporation (NYSE:BAC) anno‍unced a quarterly dividend of $0.28 per​ share,‍ consisten⁠t with its prior payout. Overall, the company has raised its payouts for 11 consecutive years. As of October 29, the stock has a dividend yield of 2.13%.

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