5 Most Undervalued US Stocks According to Hedge Funds

​3. Bank of America Corporation (NYSE:BAC)

Forward Price to Earnings Ratio: 11.14

Number of Hedge Fund Holders: 118

Bank of America Corporation (NYSE:BAC) is one of the Most Undervalued US Stocks According to Hedge Funds. On May 8, Reuters reported that Bank of America Corporation (NYSE:BAC) has hired Richard Hardegree as Vice Chair of Mergers and Acquisitions.

​Hardegree is a seasoned investment banker at UBS and brings over 30 years of M&A experience with a strong focus on the semiconductor sector. He is expected to join in August, will be based in Palo Alto, and report to BofA’s co-heads of global M&A.

​The report noted that Hardegree’s track record shows that he has been advising on major tech deals such as Broadcom’s acquisition of VMware and SAP’s sale of Qualtrics to Silver Lake. Moreover, this new hiring reflects the bank’s broader strategy to expand its tech dealmaking footprint. The report noted that BofA had already poached four other veteran bankers from competitors earlier this year, signaling an aggressive strategy to gain market share.

​This move comes at a time when global M&A activity has surged more than 32% year-over-year, with roughly $2 trillion in deals announced so far in 2026.

​Bank of America Corporation (NYSE:BAC) is a leading global financial institution offering banking, lending, investing, wealth management, and corporate finance services to consumers and businesses. Headquartered in Charlotte, North Carolina, the company was founded in 1904 as the Bank of Italy in San Francisco by A. P. Giannini.