According to Sandler O'Neill's Jeffrey Harte said in an interview with CNBC (NYSE:GE), he sees 2011 being a good year for banks in general, and his favorite picks in the sector are Bank of America (NYSE:BAC) and Citigroup (NYSE:C).
Harte said concerning the upcoming earnings report of JPMorgan (NYSE:JPM), “Once the Fed’s stress tests get done, there’s plenty of room for JPMorgan to raise that 5 cent dividend to at least 15 cents in the first quarter and maybe start looking at 25 cents in 2012.
“Longer-term, I like [Citigroup] the best because of some of the international consumer [exposure]. Looking at 2011, though, I like BofA primarily on perception play,” added Harte.
JPM will launch the financial earnings report season on Friday.
Bank of America was trading at $14.96, up $0.27, or 1.84 percent, as of 2:26 PM EST. Citigroup was trading at $5.05, up $0.11, or 2.23 percent. JPMorgan was at $44.75, gaining $1.15, or 2.64 percent.
Wednesday, January 12, 2011
Bank of America (NYSE:BAC), Citigroup (NYSE:C), Top Banking Picks of Sandler O'Neill
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Bank of America,
Citigroup,
JP Morgan,
Sandler O Neill
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