Financial Stocks You Can Bank On
Waiting for a market expert to recommend financial stocks? Wait no longer. Wendell Perkins has banks on his shopping list.
"There is an enormous amount of value in this market today," the chief financial officer of Optique Capital Management told CNBC. "If you have a stronger stomach, perhaps, in the short term, but certainly, we're looking at a longer-term opportunity in this market."
He sees many of those value stocks as severely oversold.
"Analysts have been dreadfully wrong about their negative calls so far on many of the banks," he said.
Recommendations:
Asked to name names, he starts with one of the week's big winners.
"For investors that would like to tiptoe into the financials, and want to do so conservatively, clearly, the report from JPMorgan Chase was very encouraging," he said. "Also, a great bank in North Carolina, BB&T, very strong credit culture, very solid quarter under the circumstances."
For the more aggressive, Perkins recommends Citigroup.
"We're Citi shareholders, and clearly happy to see the results. ...Things seem to be improving greatly," he explained.
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Disclosures:
Disclosure information for Wendell Perkins was not immediately available.
