NEW YORK (Reuters) - The chief executives of Bank of America Corp and JPMorgan Chase & Co bought some of their companies' stock in the last week, a sign of confidence as the banking sector struggles with soaring credit losses and a deep recession.
Credit Suisse Group AG (ADR) (NYSE:CS) initiated coverage on the large cap banks in United States earlier this week. Research analysts at the Swiss giant are bullish on the prospects of the Big Four, assigning an Outperform rating to JPMorgan Chase & Co.
ByTiming Best Buy:
Rocky market conditions, budget impasse uncertainty and poor risk management: these are just a few obstacles facing the banking sector on its road to recovery. With CEOs being criticized considerably, the banking sector is up in the air at the moment. Q4 2012 results have capped an end to a strange and transitory year for the four largest American banks.
Mark Riddix submits: Fellow bank stock investors, we are finally about to be rewarded for our patience over the last year and a half. Banks are about to start paying cash back to shareholders.The big banks are going to raise their dividends starting in 2011.