US Banks at 25% Discount to Rest of the Market

Financial Post, Duncan Mavin, 8 May 2006The U.S. banking sector is delivering record-busting profits and stellar growth of late. But bank stock valuations haven't caught up and are "too good and too cheap to ignore," says UBS Investment Research analyst David Bianco.In the first quarter of 2006, Wachovia Corp., the fourth-largest bank in the U.S, posted a 7% increase in net income compared with