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.
Hawthorn Bancshares, Inc. (NASDAQ: HWBK)
- Hawthorn Bancshares reported a decline in quarterly EPS. Chairman David T. Turner commented, "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: 28.62
- HWBK Price Action: Shares of Hawthorn Bancshares gained 0.3% to close at $18.55 on Wednesday.
- ChoiceOne Finl Servs reported an increase in Q1 EPS. "Growth in our loan portfolio is the result of us acquiring new relationships and reflects a strong local economy in Michigan. While deposits have drifted in this quarter, the ChoiceOne Wealth team has benefited and is expanding our services to key client relationships," said Kelly Potes, Chief Executive Officer. The company’s stock has a 52-week low of $19.20.
- RSI Value: 19.18
- COFS Price Action: Shares of ChoiceOne Financial Services rose 0.2% to close at $20.83 on Wednesday.
- ProAssurance reported worse-than-expected first-quarter adjusted EPS and sales results. Ned Rand, President and Chief Executive Officer of ProAssurance, commented, “In this time of uncertainty for medical professionals, it is more important than ever that they have a professional liability carrier who will stand behind them and assist in finding solutions to the challenges they face.” The company’s stock has a 52-week low of $12.34.
- RSI Value: 19.29
- PRA Price Action: Shares of ProAssurance fell 0.2% to close at $12.72 on Wednesday.
- Evans Bancorp posted better-than-expected first-quarter earnings. “Evans delivered solid results during a period of heightened volatility and the headwinds of margin pressure caused by rising interest rates and competitive pricing,” said David J. Nasca, President and CEO of Evans Bancorp, Inc. The company’s 52-week low is $23.44.
- RSI Value: 18.61
- EVBN Price Action: Shares of Evans Bancorp fell 0.7% to close at $23.63 on Wednesday.
- Waterdrop posted upbeat fourth-quarter earnings. Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop, commented, "We demonstrated resilience and delivered net operating revenue of RMB 2.8 billion and net profit of RMB 607.7 million in the year of 2022." The company has a 52-week low of $0.97.
- RSI Value: 26.79
- WDH Price Action: Shares of Waterdrop dropped 0.8% to close at $2.61 on Wednesday.
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