Banks will double their capital return after successful stress test, No. 1 analyst Mayo says

Signage outside a Bank of America branch in San Francisco, California, U.S., on Thursday, Jan. 14, 2021.

David Paul Morris | Bloomberg | Getty Images

The Federal Reserve just gave the banking industry the green light to start giving more cash back to investors and the firms won’t hesitate, doubling their capital return in the form of dividends and buybacks this year, according to Wells Fargo Securities.

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