Despite EPS decline, investor confidence seemingly remains, indicated by market's similar stock valuation. However, unresolved challenges may be reflected in last year's performance. Insiders' share purchases usually signify a positive outlook.

Despite on-going challenges in the banking sector, lucrative opportunities can be found for daring investors, Ellison believes. Both large and smaller banks like JPMorgan and ConnectOne Bancorp, have been identified as appealing.