Puerto Rican Banks Are Sterne Agee’s Picks for 2014

Puerto Rican Banks a top pick. In a commentary on how much bank stocks have run up in recent times, Sterne Agee analysts Todd L Hagerman and Robert Greene point out: The Sterne Agee Bank index is up roughly 33% thus far in 2013, outperforming the broader market for the second consecutive year. Since 2012, banks have returned a cumulative 73% price gain, versus a still healthy 44% gain for the broader market, which represents the best two-year stretch for the group since 1991-1992. Additionally, 2013 marks only the fourth time in the last 24 years that every single constituent…