5 Best Cheap Stocks for Beginners to Invest In

2. Bank of America Corporation (NYSE:BAC)

Bank of America Corporation (NYSE:BAC) is one of the best cheap stocks for beginners to invest in. Oppenheimer lifted the price target on Bank of America Corporation (NYSE:BAC) to $61 from $58 on April 16, with the firm maintaining an Outperform rating on the shares. The rating update came after the company’s quarterly results, and the firm stated that, in line with its theme on the bank, the beat was driven by several small factors instead of one big thing. It added that pre-provision earnings were slightly better, charge-offs slightly lower, and bigger than expected share repurchases, driving the share count slightly lower.

In its fiscal Q1 2026 earnings, Bank of America Corporation (NYSE:BAC) reported a net income of $8.6 billion compared to $7.4 billion in the prior year period, up 17%.  Diluted earnings per share rose 25% year-over-year to $1.11, while revenue for the quarter rose 7% year-over-year to $30.3 billion. The company also reported that provision for credit losses was $1.3 billion, down from $1.5 billion in fiscal Q1 2025 and relatively flat to fiscal Q4 2025.

Bank of America Corporation (NYSE:BAC) is a bank and financial holding company that operates in the Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, and Global Markets segments.