Eight more banks, all regionals, were added to Michael Mayo's downgrade list Wednesday.

"We continue to recommend selling bank stocks for the next nine-to-12- month period given our belief that the upside potential is not worth the downside risk," the Credit Suisse First Boston bank analyst said in a report to clients.

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.