Bank of America: A Valuable Dividend Stock

Bank of America Corporation (NYSE:BAC) is considered one of the top 13 valuable dividend stocks to buy by Wall Street Analysts. A global financial institution, Bank of America offers a wide range of financial services for individuals, companies, and organizations; including banking, investment, asset management, and various financial solutions.

Wells Fargo has made a positive assessment of the stock by raising the price target for Bank of America shares from $60 to $62. Wells Fargo expects the bank to set a new tangible common equity return (Return on Tangible Common Equity - ROTCE) target in the range of 16% to 18% during the investor day event scheduled for November 5. This development reflects confidence in the bank's ability to better leverage its strong franchise.

On October 23, Bank of America announced a quarterly dividend of $0.28 per share, consistent with previous payouts. The company has been increasing its dividend payments for the last 11 years. As of October 29, the dividend yield for the stock stands at 2.13%.

However, while recognizing Bank of America's investment potential, we believe that some artificial intelligence stocks have higher upside potential and lower downside risk. If you are looking for a highly valuable AI stock that will significantly benefit from the tariffs during the Trump era and reshoring trends, you can find information about the best short-term AI stock.