Markets to Reward BofA for Good 3Q Numbers, Baird Analyst Says

The video discusses the generally positive earnings of banks despite subdued expectations, reflecting an economy growing at 1.5% to 2%. It highlights the need to reevaluate price targets as good news may not be fully reflected in bank stocks. The discussion also covers the recent breakout in bank stocks, particularly JP Morgan, and suggests a mild upside potential. Institutional investors are underweight in banks, indicating some room for growth, but not a major breakout.

What is the speaker's view on the sustainability of the recent breakout in bank stocks?

What does the speaker suggest about institutional investors' positions in banks?