KEY POINTS
  • "The [banking] group is doing better than we thought and even after this latest leg higher, many of these stocks remain dirt cheap and getting revalued higher almost every day since they reported," CNBC's Jim Cramer says.
  • "On the one hand, when the expectations get low enough, it doesn't take much to produce a strong result — that's been the case with many of these," the "Mad Money" host says.
  • "On the other hand, some of the major financials reported genuinely fantastic growth numbers and it's a wonder that they're doing that well during what should've been a less-than-stellar quarter," he says.

CNBC's Jim Cramer on Thursday said the banking sector reported positive earnings results over the past week and that the stocks remarkably were able to rally on the news.

"The big takeaway from the major banks is that the group is doing better than we thought and even after this latest leg higher, many of these stocks remain dirt cheap and getting revalued higher almost every day since they reported," the "Mad Money" host said.