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TheStreet Open House

Banks Boom on Jobs Report Surprise: BAC, C, JPM, RF, HBAN, KEY

NEW YORK (TheStreet) -- An unexpectedly sunny jobs report had a domino effect on the financial sector on Friday, as the yield on 10-year U.S. Treasuries jumped to 2.75% and banks saw an industry-wide rally.

Among the larger banks, Bank of America (BAC) climbed 3.8% to $14.32, Citigroup (C) was up 3.3% to $49.94 and JPMorgan (JPM) gained 4.5% to $53.96.

To the regionals, Regions Financial (RF) spiked 5.6% to $9.78, Huntington Bancshares (HBAN) added 3.6% to $9.02 and KeyCorp  (KEY) rose 4.5% to $13.02.

The U.S. added 204,000 jobs in October, the Labor Department said Friday. Analysts had expected 125,000 jobs to be added to payrolls, keeping estimates cautious given the incidental effects of the October's partial government shutdown.

TheStreet Ratings team rates Regions Financial Corp as a Buy with a ratings score of B. The team has this to say about their recommendation:

"We rate Regions Financial Corp (RF) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had subpar growth in net income."

TheStreet Ratings team rates Bank of America Corp as a Hold with a ratings score of C+. The team has this to say about their recommendation:

"We rate Bank of America Corp (BAC) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and solid stock price performance. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."

TheStreet Ratings team rates Citigroup Inc as a Buy with a ratings score of B. The team has this to say about their recommendation:

"We rate Citigroup Inc (C) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, notable return on equity, attractive valuation levels and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

TheStreet Ratings team rates JPMorgan Chase & Co as a Buy with a ratings score of B. The team has this to say about their recommendation:

"We rate JPMorgan Chase & Co (JPM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, reasonable valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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