Bank Stock Analyst Restricts Research

NEW YORK ( TheStreet) -- Richard Bove, the Rochdale Securities bank stock analyst known for his ubiquitious press appearances and outspoken views , has retooled his public relations policy in the face of complaints from clients.

In a note sent to reporters Monday, Bove announced he would no longer distribute research as soon as it is published, because, according to his note, Rochdale's research clients "believe that they are paying for material others are receiving at no cost."

Bove will still give interviews for print and radio, according to the note, though televised interviews must now be on phone rather than in person and must last longer than five minutes.

A call to Bove was not immediately returned.

While Bove was one of the more bearish analysts leading up to the crisis, he has been extraordinarily bullish for more than a year. In May, he argued Citigroup ( C) and Bank of America ( BAC) would sextuple by 2015, while predicting only slightly smaller potential gains for Wells Fargo ( WFC) and JPMorgan Chase ( JPM).

As of October, Bove had no "sell" ratings and there were only three companies he rated "neutral."

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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