USA Today: “Best bank stocks in August 2023”
By datatrekresearch in IN THE NEWS
Excerpt from USA Today quoting DataTrek co-founder Nick Colas:
.... "The U.S. banking crisis weighed on bank stocks in 2023, but it may have also created opportunities for investors to scoop up high-quality bank stocks at a valuation discount.
“With earnings expectations now stable and valuations still at a deep discount to the overall U.S. equity market, bank stocks should be able to claw back more of their (year-to-date) losses,” DataTrek Research co-founder Nicholas Colas said.
Colas says bank stocks have performed well since the banking crisis fears peaked in early May.
“We believe it will continue through the end of the quarter at the very least, as investors look for laggard groups that stand to benefit from a still-strong U.S. economy,” he said"....
Full article here on USA Today.
