Needs permission by Fed for technical reasons -- it owns a small S&L. Many funds/companies can only own dividend paying stocks. Once the dividend is declared -- expect a modest jump. Suspect dividend will be declared w/in next 6 months, maybe 3.
It could be as soon as March when the Fed ok's the other big banks to increase the dividends and buybacks. I wonder if there is a way to find out what and if they submitted their intentions. WFC just increased their dividend based on what they submitted the begining of last year. We could see a pop, or this is running because the people in the know are buying and will sell on the news. Hopefully it pops up on the news and continues North to get back to above Book Value.