5 Stocks to Buy on Sale and Never Look Back

In this article, we will be taking a look at the 5 stocks to buy on sale and never look back. To skip our detailed analysis of these stocks and current market trends, you can go directly to see the 10 Stocks to Buy on Sale and Never Look Back.

5. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 99

Share Price as of November 4: $35.89

Bank of America Corporation (NYSE:BAC) is a diversified banking company based in Charlotte, North California. The company offers banking and financial products for individual consumers, institutional investors, and large corporations, among others.

James Fotheringham, an analyst at BMO Capital, raised his price target on shares of Bank of America Corporation (NYSE:BAC)  on October 18 from $41 to $42. The analyst also reiterated a Market Perform rating on the stock.

General economic pessimism in the market has resulted in Bank of America Corporation (NYSE:BAC) falling behind its highs by 28% as of November 3. However, the company stands to gain tremendously because of rising interest rates. It estimates that for every 100 basis point shift in the yield curve, it will bring in $4.2 billion of annual net interest income. Now it the perfect time to buy the stock, to benefit from its enormous profitability in the future.

Bank of America Corporation (NYSE:BAC) was found among the 13F holdings of 99 hedge funds in the second quarter. Their total stake value was $35.9 billion.