(Updated with additional analyst commentary on stress tests as a catalyst)NEW YORK ( TheStreet) -- The next big catalyst for bank stocks is right around the corner. The Federal Reserve will announce the results of the annual stress tests- officially known as CCAR(Comprehensive Capital Analysis and Review) on March 15. Analysts expect almost all of largest 19 banks to pass the test and most are expected to win approval to increase dividends and buybacks. According to RBC Capital analyst Gerard Cassidy, Bank of America ( BAC) and Regions Financial ( RF) may be the only banks that do not increase dividends or buybacks in 2012. Bank of America has said it has not requested an approval of any return of capital strategies, after the Fed rejected its request for a modest increase last year. Bank of America pays a penny per share in dividends every quarter. Investor's concerns about the bank's capital adequacy have abated, after it reported a Tier 1 Common Capital ratio under Basel 1 being 9.86% in 2011. "We've been for the last couple of years transforming the company," CEO Brian Moynihan told Reuters in an interview last week. "I think the market now realizes the progress we've made on that. Now it's all about, how do we drive the earnings going forward?" Regions Financial, meanwhile, was unlikely to win the regulator's nod for more dividends or buybacks, as it still owes government bailout money, Cassidy noted. Citigroup ( C) might see among the biggest increases to its dividend, according to the analyst's estimates. The bank, which paid a penny a quarter for each share, is likely to win approval to return a substantial amount of capital in 2012, with strong capital levels under Basel 1 and two straight years of profits. The bank may pay out as much as 40 cents per share in 2012, up ten-fold from 4 cents in 2011, according to RBC. That works out to a dividend payout ratio of 10%. The consensus is somewhat lower; analysts on an average project the bank to pay something around the range of 31 cents per share. While the upside is substantial, as a percentage of earnings, Citigroup is poised to payout only about 25% of its earnings in the form of dividends and buybacks. Wells Fargo ( WFC), on the other hand, may pay out as much as 52% of its earnings in dividends and buybacks, Cassidy estimates. Wells, with its strong capital and profitability levels, is well placed to return more capital to shareholders, although the bank has also been using capital to buy assets. Consensus expects the large, regional bank to deploy more than a third of its earnings towards dividends or buybacks. "Even after accounting for higher home equity losses, regional banks without TARP could pay out 50% of 2012 earnings and still clear the 5% tier 1 common bar," Bank of America Merrill Lynch analyst wrote in a report Tuesday. " That said, given the 34% rally in the BKX since its Oct' 11 trough, along with a wide range of buy- and sell-side expectations, we believe that it is far less likely that the stress test will be a positive catalyst for bank stocks - instead highlighting regulatory overhang and potentially muting or reversing the pace of the 2012 rally," she cautioned. Here are four banks that are expected to have the highest payout ratio for dividends and buybacks combined, according to Cassidy. Note that while RBC Capital estimates banks' average combined payout ratio at 41%, consensus is generally lower at 33%.