Publish date:

Four Best Bank Stocks to Buy Right Now

Bank stocks have been close to abysmal thus far in 2016, but investors looking for the best of the bunch should seek out Bank of America, Citigroup, Independent and PacWest

Bank stocks have been close to abysmal thus far in 2016, but investors looking for the best of the bunch should seek out Bank of America (BAC) - Get Report , Citigroup (C) - Get Report , Independent (INDB) - Get Report and PacWest (PACW) - Get Report , said Ryan Kelley for the Hennessy Large Cap (HLFNX) - Get Report and Small Cap (HSFNX) - Get Report Financial Funds. Shares of Bank of America are down 6.5% year-to-date and Kelley sees lots of cost repositioning ahead, as well as a rising dividend. He also said the stock is cheap trading at 13 times its trailing 12 months earnings and below book value. "Bank of America will do much better in a rising rate environment and should also be able to take advantage of Wells Fargo's (WFC) - Get Report problems," said Kelley. TheStreet's Gregg Greenberg has details from Wall Street. 

TST Recommends