Financial stocks are cheap and are a buying opportunity, BMO Private Bank Chief Investment Officer Jack Ablin told CNBC on Wednesday.
Despite calling Wells Fargo a "political pinata" due to the sales practices scandal, Ablin said: "I am recommending financials in general. I would just say buy 'em all and it'll work its way out in the wash."
Ablin sees significant room for improvement in the overall market and hopes to see it move higher in coming months.
"The good news is analysts are expecting revenues to increase year over year this quarter. Hopefully we'll see earnings follow along, but it's a slow and steady process," he said on CNBC's "Squawk Box."
He's unsure, however, where revenue increases might come from.
"If inflation moves higher and interest rates lag, that could be the catalyst for a move higher," he said, though he was not suggesting the existence of a bubble.