Bank stocks were solid after the Senate Banking Committee approved Janet Yellen's nomination to head the Federal Reserve, setting up a Senate floor vote.
BAC will see $9B more in cost cuts and have plenty of excess capital even if hit by a JPM-like settlement, according to Atlantic Equities.
The U.S. Treasury plans to fully exit its bailout investment in General Motors by the end of the year.
Bank stocks fared better than the broad market on a mixed Wednesday for economic news.
With a big monkey off its back, the highly profitable JPMorgan should see its stock rise to a P/E valuation in line with peers.
Bank stocks fared better than the broad market on Tuesday, as JPMorgan Chase entered into a landmark $13 billion mortgage settlement with various government authorities.
These bank stocks, conservatively rated "A" by TheStreet Ratings, trade at relatively low price-to-earnings ratios.
The nation's biggest bank will announce a landmark $13 billion settlement with the Department of Justice, as early as Tuesday, according to the Wall Street Journal.
Following its second major fourth-quarter settlement with MBS investors, JPM said it was 'appropriately reserved' for any similar litigation.
Jeff Immelt continues to sharpen General Electric's focus, while shareholders can see gains as the consumer finance business is set free.