Benzinga - The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
RBB Bancorp (NASDAQ: RBB)
- RBB Bancorp posted weaker-than-expected quarterly earnings. The company’s stock has a 52-week low of $8.62 .
- RSI Value: 22.88
- RBB Price Action: Shares of RBB Bancorp rose 2% to close at $9.31 on Tuesday.
- Timberland Bancorp posted a rise in quarterly EPS. “We are pleased to report strong financial results for our second fiscal quarter, with net income and EPS increasing 25% and 27%, respectively, compared to the year ago quarter,” stated Dean Brydon, Chief Executive Officer. The company’s stock has a 52-week low of $22.11.
- RSI Value: 24.71
- TSBK Price Action: Shares of Timberland Bancorp rose 1% to close at $22.98 on Tuesday.
- Hawthorn Bancshares posted lower quarterly EPS. Chairman David T. Turner said, "Hawthorn Bank continued to perform well in the first quarter of 2023 despite delivering a reduction in reported earnings as compared to the linked quarter and prior year quarter." The company’s stock has a 52-week low of $18.01.
- RSI Value: 18.60
- HWBK Price Action: Shares of Hawthorn Bancshares rose 0.6% to close at $18.47 on Tuesday.
- UBS said Todd Tuckner will succeed Sarah Youngwood as CFO of UBS at close of Credit Suisse merger. The company’s 52-week low is $0.82.
- RSI Value: 29.89
- CS Price Action: Shares of Credit Suisse fell 0.1% to close at $0.8679 on Tuesday.
- Premier Financial reported worse-than-expected Q1 results. "Over the course of the first quarter, the organization was fully engaged in deposit retention and expansion efforts with our consumer, wealth, commercial, and public funds clients," said Gary Small, President and CEO of Premier. The company has a 52-week low of $13.77.
- RSI Value: 17.91
- PFC Price Action: Shares of Premier Financial fell 0.2% to close at $14.15 on Tuesday.
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