Sector Snap: Bank Stocks Get Boost From Upgrades

NEW YORK (AP) — Bank stocks got a boost Thursday from an upbeat outlook on the industry from a group of RBC Capital Markets analysts who contend that the worst of the financial crisis is over.

The KBW Bank index, which tracks 24 of the nation's largest banks, rose 3.1 percent in midday trading, after posting small declines earlier this week.

RBC raised its rating on the financial sector to "Overweight" from "Market Weight," saying capital and liquidity risks have been significantly reduced. Banks are now in a position to outperform the broader market for several years to come, the analysts said, after underperforming the market for the past few years. ...