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Dick Bove: Bank sell-off is a buying opportunity

Widely followed banking analyst Dick Bove of Rafferty Capital Markets told CNBC that he would be buying shares of financial institutions amid the Deutsche Bank turmoil caused by reports that a small number of hedge funds have reduced exposure to the financial institution.

"The headline risk is going to be very negative for the stocks in the short run, but I think they are compelling buys," said Bove, who only excluded Well Fargo and Deutsche Bank from his buy list, which included Bank of America and JPMorgan Chase.

The analyst believes that many of the large U.S. banks, and even some of the regional financial institutions are "making so much money and they are selling at such low prices on a valuation basis" that the outcome with Deutsche Bank won't likely impact them.

To watch the full broadcast interview, which originally aired on "Closing Bell," you must be a CNBC PRO subscriber.