When banks become members of the Federal Reserve System, which is mandatory for national banks and voluntary for state banks, they have to purchase stock in their local Federal Reserve Bank equal to six percent of their own capital and surplus.

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In fact, according to research from the Federal Reserve Bank of San Francisco, it looks like the stock market will face subpar returns for the next two decades due in part to this shift.

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Evercore Partners analyst Andrew Marquardt maintains his overweight rating on the stock and highlights the revised capital plan the bank will be submitting to the Federal Reserve, which will determine its ability to deploy cash to shareholders, as a factor to watch.

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