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Trader: buy these two bank stocks as the Fed hikes rates

Haley Messenger

On Wednesday "Halftime Report" trader Joe Terranova bought Regions Financial RF and added to his Bank of America BAC position. On Wednesday Virtus Investment Partners' Joe Terranova bought Regions Financial RF and added to his Bank of America BAC position because he thinks the bank stocks will benefit from a rising rate environment. The problem is they have not given you the type of performance that maybe some of the higher growth technology names have, but if you look longer term, financials have recovered," he argued on Wednesday's Halftime Report .