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BAML sticks to bullish bank thesis

Apr. 21, 2017 10:20 AM ETKBE, IAT, KRE, KRU, QABA, KRS, KBWB, KBWR, WDRW, DPST, FTXOBy: Stephen Alpher, SA News Editor1 Comment
  • via Bloomberg
  • The banks have had a very rough go of it since early March, with the overall sector now actually in the red for the year vs. the S&P 500's 5% advance.
  • It hasn't shaken Savita Subramanian and team, where banks remain their "highest conviction" buy.
  • The sector isn't just an interest rates play, they say, noting lenders offer the most potential for capital returns, and should be the biggest beneficiary of tax and regulatory reform.
  • They compare banks - 10 years from their 2007 peak - to tech 10 years from its 2000 peak. That one-decade anniversary proved to be good time to buy.
  • ETFs: KRE, KBE, IAT, KBWB, QABA, KBWR, KRU, KRS, WDRW, DPST, FTXO

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