Bank stocks have been pummeled in recent weeks amid the ongoing crisis centered around regional banks — but Wall Street sees some buying opportunities among the financial shares that have solid fundamentals and strong deposit bases. The financial shock spurred by the closure of Silicon Valley Bank has pushed down a bevy of bank stocks in recent days as investors considered the risk of contagion.
Pro screened for stocks that had the lowest portion of uninsured deposits, and at the same time were the most liked by Wall Street, using data from JPMorgan and FactSet. Pro's list, it has the smallest gain expected by analysts at 27.4%. Wells Fargo , also a major bank, has lost 20.5% this month, bringing shares into negative territory for the year. As of Wednesday's close, the stock was down 9.9% year to date. With 55.2% of analysts rating it a buy, it's the least favored of the five stocks on the list. But the average analyst's price target implies shares could advance roughly 43% from Wednesday's close.
Yes...like SIVB? Just to name one from your bestie Cramer.
Paywall. Stop w these annoying tease posts.
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