On a Monday following high-profile bank failures on Friday and Sunday, it may seem to be a strange time to recommend buying stocks of banks and other financial services companies, but Keefe, Bruyette & Woods has done just that, and even says clients should buy shares of a bank whose stock was down more than 70% in premarket trading on Monday, following a 34% decline last week.
... On a Monday following high-profile bank failures on Friday and Sunday, it may seem to be a strange time to recommend buying stocks of banks and other financial services companies, but Keefe, Bruyette & Woods has done just that, and even says clients should buy shares of a bank whose stock was down more than 70% in premarket trading on Monday, following a 34% decline last week.
Before getting to KBW’s list, this is a good point to remind readers that in his annual letter to Berkshire Hathaway Inc. shareholders for 1986, Warren Buffett, the company’s CEO, wrote that “we simply attempt to be fearful when others are greedy and to be greedy when others are fearful.” Here are the 11 financial stocks KBW recommended Monday morning, in the same order they were listed in the firm’s report:Read Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.