Remember when we were all terrified to own banks? It wasn't that long ago.
Share prices of most of them have had good runs, but Dick Bove believes the sector is still very attractive.
He refers specifically to JPMorgan Chase (JPM, Financial) and Citigroup (C, Financial), both of which are trading for less than the cash that they have on their balance sheets.
A catalyst that he sees is an end to financial crisis-related penalties that these companies have been paying. Once those billions of dollars of expenses end, true earnings power will be revealed.
