5 Best Bank Stocks To Buy For Long-Term

2. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 90

Bank of America Corporation (NYSE:BAC) is a provider of banking and financial products and services in the US. It is based in Charlotte, North Carolina.

There were 90 hedge funds long Bank of America Corporation (NYSE:BAC) in the second quarter, with a total stake value of $31.8 billion.

An Outperform rating and a $35 price target were maintained on Bank of America Corporation (NYSE:BAC) on September 12 by Gerard Cassidy at RBC Capital.

Here’s what Diamond Hill Capital said about Bank of America Corporation (NYSE:BAC) in its second-quarter 2023 investor letter:

“Other bottom contributors included SunOpta, Bank of America Corporation (NYSE:BAC) and Texas Instruments. Bank of America (which we added to the portfolio in Q2) is among the US’s largest banks. Shares were pressured during the quarter against a still-challenging backdrop for banks, particularly as investors fret about rising deposit costs and the values of some longer-duration assets in a rising-rates environment.”