5 Most Undervalued Value Stocks To Buy According To Hedge Funds

3. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 97

Of the 920 hedge funds tracked by Insider Monkey, 97 hedge funds reported owning stakes in Bank of America Corporation (NYSE:BAC). This makes Bank of America Corporation (NYSE:BAC) one of the most popular value stocks according to the smart money. Bank of America Corporation (NYSE:BAC) has a PE ratio of 11.1 as of January 27. Bank of America Corporation (NYSE:BAC) joins the list of major companies facing the heat of tough economic conditions. It was reported by Bloomberg earlier this month that Bank of America Corporation (NYSE:BAC)’s top management has asked its managers to stop hiring except for crucial roles as the company looks to cut costs. The hiring freeze is expected to remain effective until at least the first half of the year or until the economy begins to turn the corner.