NEW YORK (TheStreet) -- The S&P 500 climbed 0.29% to a new closing high on Thursday as U.S. equities rose on all the major stock indices.
On CNBC's "Fast Money" TV show, the trading panel took a look at financial stocks after the sector climbed 1.18%.
Guy Adami, managing director of stockmonster.com, said U.S. Bancorp (USB) and Wells Fargo (WFC) have been "slow and steady" for quite a while, and are two names he continues to like. He also likes Citigroup (C) .
Karen Finerman, president of Metropolitan Capital Advisors, said she hoped Bank of America's (BAC) settlement with the U.S. government will allow investors to once again focus on the company's fundamentals.
Tim Seymour, managing partner of Triogem Asset Management, said eventually the Federal Reserve will have to raise interest rates. He likes Citigroup for its low valuation and solid fundamentals.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, said investors are seeing longer-term upside potential in stocks likes Morgan Stanley (MS) , Bank of America, and TD Ameritrade (AMTD) .
Home Depot (HD) announced a new CEO. Seymour said everyone has been expecting this move to come. It now seems like an okay time to consider taking profits. Finerman said she expects a smooth transition.
Adami said he continues to like shares of Home Depot on the long side. A few years ago a management shakeup would have mattered more but "not so much" now, he said.
Dana Telsey, CEO of Telsey Advisory Group, said Gap (GPS) still has room to improve on same-store sales. She added that new merchandise this fall could boost comparable-store sales. Overall, the company reported a "very decent quarter" with solid inventory and cost management. The online business increased 11% and back-to-school seems to be going well.
Adami said he likes Gap on the long side, suggesting that it could climb to $50. Seymour said Gap has efficient operations but also pointed out the stock is running into one-year resistance near $44.
Chris Rolland, semiconductor analyst at FBR Capital Markets, said Fairchild Semiconductor (FSC) has a very similar business to International Rectifier (IRF) , which was just acquired by Infineon (IFNNF) for $3 billion. Infineon could circle back and pick up Fairchild in a few years, Rolland said, if it can improve the business. Another takeover candidate is Atmel (ATML) .