While several U.S. banks have exposure to Greece, there might be opportunities for investors in the financial sector despite the country's debt crisis, according to CNBC contributors, Jon Najarian and Steven Cortes.
The situation in Greece could cause more Greek-owned properties to become privatized, according to Najarian, co-founder of OptionMonster.com.
"They [banks] are able to pick up stuff for pennies on the dollar," Najarian told CNBC Thursday. "This is the time when the smart money comes in to buy."
The banks will likely sell hotels, according to Najarian. The fire sale will likely benefit Marriott , Hyatt and Starwood .
Meanwhile, some might find bargain opportunities within the financial sector, such as Morgan Stanley and Goldman Sachs, according to Cortes, who was interviewed with Najarian, and who owns shares in Morgan Stanley.
“I think Morgan Stanley at $22 is a bargain and I think Goldman Sachs below $140 is a bargain—for two reasons: valuation and sentiment," said Cortes.
In terms of valuation, Cortes says banks are trading at or below book value, which he says historically has been a good time to buy.
As for sentiment, "I can find almost no one who actually likes and believes in these banks," he said, adding that, "They are all hated universally."
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Cortes owns shares in Morgan Stanley.
Disclosure information was not available for Jon Najarian or his company.