Top 5 Blue Chip Stocks with Growing Dividends

2. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 106

On June 23, Citi raised its price target on Bank of America (BAC) to $66 from $62 and maintained a Buy rating on the shares as part of its second-quarter preview. The firm said management’s comments at recent investor conferences have been encouraging. Citi sees potential upside to second-quarter estimates, supported by stronger performance in both banking and trading activities.

During Bank of America’s first-quarter 2026 earnings call, Executive Vice President and CFO Borthwick said the company had increased its full-year net interest income (NII) growth guidance. He attributed the change to stronger-than-expected NII performance in the first quarter and shifts in interest rate expectations. According to Borthwick, the market had moved from expecting two interest rate cuts to expecting none. As a result, the company raised its projected NII growth range to 6% to 8% year over year.

Borthwick also said the company continues to expect more than 200 basis points of positive operating leverage for the year, consistent with its prior guidance. In addition, he noted that Bank of America expects its effective tax rate to be slightly above 20%.

Bank of America Corporation (NYSE:BAC) is a bank holding company and financial holding company. Its business segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.