[ by Melanie Gretchen ]

Dick Bove, the financial industry analyst who now resides at Rafferty Capital Markets, announced that he's sticking to his guns regarding his favorable outlook for the financial industry.  Despite a recent misfortunes of Rochdale Securities, his former broker-dealer employer, Mr. Bove remains optimistic about the industry's future.

Speaking to the media for the first time since joining Rafferty, Mr. Bove said that, after a year in which financials led the stock market higher, the industry is now in a position to continue that leadership role and reward investors who got hammered during the financial crisis. What's next for the banking industry: an unbridled 14-year run higher for banking stocks.

"What I'm suggesting is for the next 14 years — you'll have some setbacks, some recessions — (but) bank earnings will do what they did from 1992 to 2006.  They're going to go straight up.  Investors in this industry obviously have to get out at the right point in the cycle, but they're going to make a great amount of money."

Behind his optimism is his faith in the recovery of the U.S. economy, out of the subprime credit crisis, supported by an analysis breaking down individual bank earnings and stock performance.  His top picks include Goldman Sachs, Bank of America, JPMorgan Chase, and Citigroup.  Among the smaller players, he likes PNC Financial, Comerica and Fifth Third, and recommends Lazard Capital, Greenhill and Evercore among advisory firms. 

For further details, go to [CNBC, 1/30/13].