While there is still uncertainty heading into the winter, the banking sector, like most of the market, seems to have shaken off the significant rise in COVID-19 cases, hopeful that an effective vaccine will soon be ready for the public. With that in mind, it's a good time to look for opportunities in the banking sector, which is still down on the year, before more catalysts like a second stimulus bill drive stocks higher. One regional bank that looks like it has opportunity is Citizens Financial Group (NYSE: CFG) , a $180 billion large-asset regional bank based in Providence, Rhode Island. Here's why.
After the recent rebound in the banking sector, Citizens Financial was recently trading at about 110% of tangible book value. But even at that level, the bank was still trailing all of its peer banks in terms of valuation.
Source: Bank financial statements.
For further details see:
Trading Below Its Peers, This Regional Bank Stock Has Upside