Wall Street's biggest banks rose in morning trading on Monday after sailing through the U.S. Federal Reserve's annual health check, setting the stage for billions in stock buybacks and dividends.

Get ready for a share-buyback—and dividend—bonanza. That’s what analysts predict is coming, after the Federal Reserve found the U.S.'s biggest banks are well positioned to weather a severe downturn, based on its regular stress test.

All 22 banks that participated in the Federal Reserve’s stress test passed, although it was less stringent than past years.