5 Best Blue Chip Stocks Under $100

4. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 90

Bank of America Corporation (NYSE:BAC) is one of the top blue chip stocks that investors could buy in budget. Bank of America Corporation (NYSE:BAC) pays regular dividends and enjoys security and dominance in the market due to its sheer size. Bank of America Corporation (NYSE:BAC) CFO Alastair Borthwick recently said during an event that the company expects Q3 net income in the range of $14.2 billion – $14.3 billion, in-line with many estimates and even better than forecasts of several analysts.

As of the end of the second quarter of 2023, 90 hedge funds tracked by Insider Monkey reported having stakes in Bank of America Corporation (NYSE:BAC).

Diamond Hill Select Strategy made the following comment about Bank of America Corporation (NYSE:BAC) in its Q2 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.”