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Donald Trump was inaugurated on Jan. 20 as the 47th U.S. president and started his second term with a flurry of executive orders, including one that implements a regulatory freeze. Trump has vowed he will support fewer regulations, and no industry would welcome this as much as the banking sector, which is among the most tightly regulated sectors.
Citigroup (C) and Wells Fargo (WFC) have faced regulatory woes much more often than their peers. But Citi is a transformation play that has rallied significantly since Trump’s November election and hit its 52-week high on Jan. 17. The stock, which has a healthy dividend yield of 2.8%, might continue its rally given its reasonable valuations and continued turnaround.
