Top picks in a number of sectors have been unsurprisingly pouring out from everywhere, and one Barclays (NYSE:BCS) released their list of top picks in the banking industry, led by BofA (NYSE:BAC), Citi (NYSE:C), Wells Fargo (NYSE:WFC) and JPMorgan (NYSE:JPM).
Barclays noted their picks were based mostly on those banks that are expected redeploy capital in the first part of 2011.
Also chosen as top pick banks were State Street (NYSE:STT), PNC Financial (NYSE:PNC), US Bancorp (NYSE:USB), TCF Financial (NYSE:TCB), Bank of New York Mellon (NYSE:BK), First Interstate Bancsystem (Nasdaq:FIBK) and City National (NYSE:CYN).
Bank ratings and price targets:
BofA - Equalweight with $19 price target - closed at $14.19
Citi - Overweight with $6 target - closed at $4.90
Wells Fargo - Overweight with $36 target - closed at $31.58
JPMorgan - Overweight with $60 target - closed at $43.58
State Street - Overweight with $57 target - closed at $47.62
PNC Financial - Equalweight with $75 target - closed at $61.46
US Bancorp - Overweight with $31 target - closed at $26.94
TCF Financial - Overweight with $22 target - closed at $14.84
Bank of NY Mellon - Overweight with $38 target - closed at $30.81
First Interstate Bancsystem - Overweight with $19 target
City National (NYSE: CYN) - Overweight with $65 target - closed at $15.57
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