Top 30 S&P 500 Stocks by Index Weight

22. Bank of America Corporation (NYSE:BAC)

Index Weight: 0.61%

Number of Hedge Fund Holders: 118

Bank of America Corporation (NYSE:BAC) is one of the top S&P 500 stocks by index weight. On April 16, Jefferies reiterated its Buy rating on Bank of America Corporation (NYSE:BAC) and raised the stock’s price target to $65 from $60. The price target hike follows the bank’s impressive first-quarter 2026 results, which affirm its ability to invest for growth.

Net income was up 17% year over year to $8.6 billion, as diluted earnings per share increased 25% to $1.11. Bank of America also posted a 7% increase in revenue to $30.3 billion, reflecting higher net interest income, sales, and trading revenue. During the quarter, the investment bank returned $9.3 billion to shareholders, made up of $7.2 billion in share buybacks and $2 billion in dividends.

Following better-than-expected first-quarter results, Bank of America raised its fiscal 2026 net interest income growth outlook to 6%-8%, up from the previous range of 5%-7%. It also expects operating leverage to improve by 200 basis points.

Bank of America Corporation (NYSE:BAC) is a global financial institution that provides a broad range of banking, investing, and risk management services to approximately 70 million clients. It provides comprehensive banking, investing, asset management, and risk management products, including checking/savings accounts, loans, credit cards, and wealth management.