Financials Have 'Tremendous Upside': Stock Picker

Bank stocks will eventually help lift the stock market as some of these companies have “tremendous upside,” according to Anton Schutz, president and portfolio manager of Mendon Capital.

Schutz Likes:

Bank of America—“Once they start showing progress, [the company] has 100 percent type of upside,” Schutz told CNBC. “It’s a low- to mid-$20 stocks at the least.”

JPMorgan—“JPMorgan is buying back a tremendous amount of stock and fundamentals are terrific,” he said of the firm. “It doesn’t have the same kind of upside [as BofA], but is a much stronger company on solid footing.”

American Express—“They’ve done a great job at managing credit and the real thing that’s lacking is the consumer going out and spending,” he noted. “But our mailboxes are full of mailers again and so they’re spending...on advertising, trying to grow their books.”


PNC Financial Services

(Listen to what Schutz's fellow strategist, David Goerz, CIO of Highmark Capital, has to say about investing in the the tech sector.)


Scorecard—What They Said:

  • Goerz's Previous Appearance on CNBC (Feb. 28, 2011)
  • Schutz's Previous Appearance on CNBC (Apr. 11, 2011)


More Market Intelligence:


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Goerz’s firm owns shares of ORCL, INTC, EMC, IBM, MSFT, HPQ and JPM.

Goerz owns shares of INTC and EMC.

Schutz owns shares of BAC and JPM.