The stellar earnings reports released in the past two weeks failed to light a fire under bank stocks, leaving money managers worried about the sector's fate in August's doldrums.

"Investors are skeptical about bank earnings," said Miles P.H. Seifert, chairman of Gray, Seifert & Co., New York money managers. "Many think that the earnings are interest related and have nothing to do with the operations of the banks."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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