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Zacks Value Trader Highlights: Citizens Community Bancorp, FinWise Bancorp, First Bank, NorthEast Community Bancorp and OP Bancor
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For Immediate Release
Chicago, IL – November 20, 2023 – Zacks Value Trader is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/2185687/5-cheap-strong-buy-bank-stocks-in-2023)
5 Cheap Strong-Buy Bank Stocks in 2023
Welcome to Episode #350 of the Value Investor Podcast.
(1:00) - Can You Find Good Investments In The Banking Industry?
(7:45) - Tracey’s Top Stock Picks: Creating A Strong Watchlist
Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio, shares some of her top value investing tips and stock picks.
With inflation coming down, many are thinking that the Federal Reserve may execute the soft landing for the economy. If that were to happen, some industries that have been beat up as the Fed has raised rates, could come back into favor.
The banks are cheap but the stocks have not been able to break out for years.
Is that about to change in 2024? Is the worst over for the bank stocks?
Screening for Top Ranked Bank Stocks
On Zacks, you can use the screening tool to find top stocks. You can screen for Zacks #1 Rank (Strong Buy) stocks, which should give you stocks with rising earnings estimates.
This screen used the finance sector to narrow it down even though that's a broad sector which includes more than just banks, including insurance companies.
For the valuation component, Tracey screened for stocks with a P/B under 1.0, as P/B ratios are a better metric to use for banks than P/E or P/S ratios.
Citizens Community Bancorp is a holding company of CCF Bank. It's headquartered in Eau Claire, WI and has a market cap of just $117.9 million.
Shares of Citizens Community Bancorp are down 7.8% year-to-date but they've rallied 21.1% over the last month on the encouraging CPI data. It's cheap, with a P/B of just 0.7. Bank analysts always say to buy bank stocks when the P/B ratio is 1.0 and sell when it's 2.0.
Citizens Community Bancorp pays a dividend, yielding 2.6%.
Should Citizens Community Bancorp be on your bank short list?
FinWise Bancorp is a holding company for FinWise Bank. It is headquartered in Murray, UT and has a market cap of $131.8 million.
Shares of FinWise Bancorp are up 13.9% year-to-date and have jumped 19.9% over the last month. It's still cheap with a P/B ratio of 0.9. FinWise Bancorp does not pay a dividend.
First Bank is a small bank headquartered in Hamilton, New Jersey, with business in Central and Northern New Jersey and Southeast Pennsylvania. It has a market cap of $303 million.
Shares of First Bank are down 11.5% year-to-date but have jumped 8.1% in the last month. Earnings are expected to rise 19.6% next year to $1.67 from $1.40. It's still cheap, with a P/B ratio of just 0.84.
First Bank pays a dividend, currently yielding 1.9%.
NorthEast Community Bancorp operates NorthEast Community Bank. Founded in 1934, it's headquartered in White Plains, NY. It has a market cap of $242 million.
Shares of NorthEast Community Bancorp are up 13.4% year-to-date and have also rallied in the last month, adding 13.7%. It pays a dividend, currently yielding 1.4%.
Should a New York bank like NorthEast Community Bancorp be on your bank short list?
OP Bancorp operates Open Bank and has a market cap of $127 million. It is headquartered in Los Angeles.
Shares of OP Bancorp are down 24.5% year-to-date and are also down 4.6% in the last month. It's cheap, though, with a P/B ratio of 0.7.
OP Bancorp pays a dividend, currently yielding 5.6%.
Should you be looking west to OP Bancorp for a bank stock?
What Else Do You Need to Know About Cheap Bank Stocks?
Tune into this week's podcast to find out.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Click here for your free subscription to Profit from the Pros.
Follow us on Twitter: https://twitter.com/zacksresearch
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Zacks Value Trader Highlights: Citizens Community Bancorp, FinWise Bancorp, First Bank, NorthEast Community Bancorp and OP Bancor
For Immediate Release
Chicago, IL – November 20, 2023 – Zacks Value Trader is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/2185687/5-cheap-strong-buy-bank-stocks-in-2023)
5 Cheap Strong-Buy Bank Stocks in 2023
Welcome to Episode #350 of the Value Investor Podcast.
Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio, shares some of her top value investing tips and stock picks.
With inflation coming down, many are thinking that the Federal Reserve may execute the soft landing for the economy. If that were to happen, some industries that have been beat up as the Fed has raised rates, could come back into favor.
The banks are cheap but the stocks have not been able to break out for years.
Is that about to change in 2024? Is the worst over for the bank stocks?
Screening for Top Ranked Bank Stocks
On Zacks, you can use the screening tool to find top stocks. You can screen for Zacks #1 Rank (Strong Buy) stocks, which should give you stocks with rising earnings estimates.
This screen used the finance sector to narrow it down even though that's a broad sector which includes more than just banks, including insurance companies.
For the valuation component, Tracey screened for stocks with a P/B under 1.0, as P/B ratios are a better metric to use for banks than P/E or P/S ratios.
This simple screen returned just 24 stocks.
5 Cheap Strong Buy Bank Stocks
1. Citizens Community Bancorp, Inc. (CZWI - Free Report)
Citizens Community Bancorp is a holding company of CCF Bank. It's headquartered in Eau Claire, WI and has a market cap of just $117.9 million.
Shares of Citizens Community Bancorp are down 7.8% year-to-date but they've rallied 21.1% over the last month on the encouraging CPI data. It's cheap, with a P/B of just 0.7. Bank analysts always say to buy bank stocks when the P/B ratio is 1.0 and sell when it's 2.0.
Citizens Community Bancorp pays a dividend, yielding 2.6%.
Should Citizens Community Bancorp be on your bank short list?
2. FinWise Bancorp (FINW - Free Report)
FinWise Bancorp is a holding company for FinWise Bank. It is headquartered in Murray, UT and has a market cap of $131.8 million.
Shares of FinWise Bancorp are up 13.9% year-to-date and have jumped 19.9% over the last month. It's still cheap with a P/B ratio of 0.9. FinWise Bancorp does not pay a dividend.
Is there still time to buy into FinWise Bancorp?
3. First Bank (FRBA - Free Report)
First Bank is a small bank headquartered in Hamilton, New Jersey, with business in Central and Northern New Jersey and Southeast Pennsylvania. It has a market cap of $303 million.
Shares of First Bank are down 11.5% year-to-date but have jumped 8.1% in the last month. Earnings are expected to rise 19.6% next year to $1.67 from $1.40. It's still cheap, with a P/B ratio of just 0.84.
First Bank pays a dividend, currently yielding 1.9%.
Should First Bank be on your short list?
4. NorthEast Community Bancorp, Inc. (NECB - Free Report)
NorthEast Community Bancorp operates NorthEast Community Bank. Founded in 1934, it's headquartered in White Plains, NY. It has a market cap of $242 million.
Shares of NorthEast Community Bancorp are up 13.4% year-to-date and have also rallied in the last month, adding 13.7%. It pays a dividend, currently yielding 1.4%.
Should a New York bank like NorthEast Community Bancorp be on your bank short list?
5. OP Bancorp (OPBK - Free Report)
OP Bancorp operates Open Bank and has a market cap of $127 million. It is headquartered in Los Angeles.
Shares of OP Bancorp are down 24.5% year-to-date and are also down 4.6% in the last month. It's cheap, though, with a P/B ratio of 0.7.
OP Bancorp pays a dividend, currently yielding 5.6%.
Should you be looking west to OP Bancorp for a bank stock?
What Else Do You Need to Know About Cheap Bank Stocks?
Tune into this week's podcast to find out.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Tracey Ryniec is the Value Stock Strategist for Zacks.com. She is also the Editor of the Insider Trader and Value Investor services. You can follow her on twitter at @TraceyRyniec and she also hosts the Zacks Market Edge Podcast on iTunes.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Click here for your free subscription to Profit from the Pros.
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch/
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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https://www.zacks.com/performance
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.