Banks stocks rallied Wednesday, outpacing the market for the first time in almost a month, but many investors remain nervous and wary.

The Standard & Poor's bank index soared 2.31%, while the Dow Jones industrial average rose only 1.06%. The Nasdaq bank index climbed 1.33%, and the S&P 1.43%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.