Here’s What Makes Bank of America (BAC) A Great Investment Choice

ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Value Strategy outperformed its Russell 1000 Value Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in 10 of 11 sectors in which it was invested for the quarter. The strongest contributions came from the IT, health care, industrials, and materials sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Large Cap Value Strategy, in its Q4 2021 investor letter, mentioned Bank of America Corporation (NYSE:BAC) and discussed its stance on the firm. Founded in 1904, Bank of America Corporation (NYSE:BAC) is a Charlotte, North Carolina-based financial services company with a $320.1 billion market capitalization, and is currently spearheaded by its CEO, Brian Moynihan. Bank of America Corporation (NYSE:BAC) delivered a -10.77% return since the beginning of the year, while its 12-month returns are up by 0.00%. The stock closed at $39.70 per share on April 06, 2022.

Here is what ClearBridge Investments Large Cap Value Strategy has to say about Bank of America Corporation (NYSE:BAC) in its Q4 2021 investor letter:

“Our energy and financials holdings kept pace in the 2021 rally.  In financials, Bank of America benefited from strong economic growth, a rise in Treasury yields, and a benign credit environment.”

Our calculations show that Bank of America Corporation (NYSE:BAC) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Bank of America Corporation (NYSE:BAC) was in 84 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 72 funds in the previous quarter. Bank of America Corporation (NYSE:BAC) delivered a -17.52% return in the past 3 months.

In March 2022, we published an article that includes Bank of America Corporation (NYSE:BAC) in the 5 Cheap Stocks Hedge Funds Are Talking About. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.