With several indications that the Fed might actually raise rates at the June meeting, the financials will be in play over the next couple of weeks. These financials will all benefit from charging higher rates for loans. Bank of America (BAC) the large financial traded up at $18 to end the year on the expectation of higher rates. The bank forecast an annual $6B benefit to NII from a 100 bps parallel shift in interest rate yield curve. Citigroup (C) traded towards $56 to end last year. At $45, the stock trades far below TBV of $61 while plenty of upside exists from higher rates. Ameritrade (AMTD) the stock trades at $31 after trading above $37 on higher rate expectations. The online broker will benefit greatly from higher rates on margin accounts. E-Trade (ETFC) trades below $27 after reaching $31 back in December. Even in the low interest rate environment, the online broker made over 60% of revenues off of interest income. If the Fed does hike at the June meeting, all of these financials trade far below highs when the market was expecting four hikes in 2016. The ironic part is that the Fed would've delivered two rate hikes by mid-year, yet the stocks trade far below the original prices. Buy the large financials even without rate hikes, but the online brokers will need hikes in order to see the stocks rise. Disclosure: Long C