Financial stocks continue to take a beating, but Anton Schutz, portfolio manager of Mendon Capital, sees opportunities in financials with “too much capital.”
His first pick is holding company TFS Financial.
“TFS buys back a tremendous amount of its own stock," Schutz said. "Its got excess capital…so its open for business, lending money…and taking advantage of the disruption out there.”
Schutz also likes Lazard .
"There's going to be a lot of corporate restructuring, as well as more work in financial M&A, so I think Lazard is poised to benefit here without risking its balance sheet."
Disclosure information was not available for Schutz or his company.