Outlook On Financial Sector In 2010; Bank Of Hawaii Corp.( BOH) To Do Well

Financials are likely to remain stretched in Year 2010. According to Christopher Whalen of Institutional Risk Analytics, selective financial sector stocks are expected to deliver during this year.

Lower interest rates coupled with Fed’s purchase of assets will take its toll on the financial sector. He counted Bank of Hawaii Corp. (NYSE: BOH), Hudson City Bancorp Inc. (NASDAQ: HCBK), WestAmerica Bancorp (NASDAQ: WABC) and IberiaBank Corp. (NASDAQ: IBKC) among his favorite financial stocks.

He stated that bigger banks such as JP Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC) and Wells Fargo & Co. (NYSE: WFC) are likely to face pressure due to credit crunch.