Although this is not an industry that investors should hold for decades, Ellison said they can add value to portfolios by holding these stocks and waiting for the execution of value.
“I think the financials are obviously much healthier than they were three years ago,” he said.
Just as stocks within the industry previously fell together, they are now rising in unison, he added.
For investors searching for dividend growth, Ellison pointed to JPMorgan Chase as a good place to look.
“Clearly JPMorgan is ahead of everybody — primarily because of the very fortuitous acquisitions that they made that allowed them to maintain their capital and grow their book value through the entire cycle,” he said.
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Disclosure information was not available for David Ellison.
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