3 Incredibly Cheap Bank Stocks
Despite this past week's pullback, bank stocks have been on a nice run as of late, buoyed by the gradual reopening of state economies and people getting back to work. In the first week of June, leading up to the May unemployment report, the banking industry jumped about 18% -- well above the S&P 500 over those five days. The economy added 2.5 million jobs in May as many people returned to work, and the market has reacted positively. More Americans working puts less economic stress on the system and reduces the potential for loan defaults.
These macro developments are a positive for the beleaguered banking industry, which was among the hardest hit by the pandemic. It is also a positive for investors in that there remain a lot of great values left -- and now is a good time to take advantage of them. Here are three incredibly cheap bank stocks -- two of which are large holdings for Warren Buffett and Berkshire Hathaway, and one of which you'll be happy to meet.
Source Fool.com
