Bank of New York a screaming buy, says Dick Bove

Retail investors may be forgiven if they view bank stocks with great skepticism. After all, the financial sector touched off the conflagration that ultimately became the Great Recession. But that doesn't mean there aren't some bargains in the banking sector, and noted bank analyst Dick Bove of Rochdale Securities says he has a doozy.

Bove published a report last week banging the drum on Bank of New York Mellon (BK) as one of the most compelling stories in the financial sector -- with one of the worst performing stocks.