The financial sector has churned out some oversold stocks, presenting an opportunity to invest in undervalued companies.

The RSI, a momentum indicator, compares a stock’s strength on days when prices rise to its strength on days when prices fall. When compared to a stock’s price action, it offers insight into how a stock may perform in the short term. Stocks with a RSI below 30 are typically considered oversold, providing an opportunity for savvy investors.

Here’s the latest list of major oversold players in this sector, with RSI near or below 30.

Oversold Financial Stocks

• New York Community Bancorp, Inc. (NYCB)
• On Jan. 31, New York Community Bancorp reported worse-than-expected fourth-quarter financial results and reduced its quarterly dividend. The company’s stock fell around 56% over the past month and has a 52-week low of $3.60.
• RSI Value: 27.65
• NYCB Price Action: Shares of New York Community Bancorp fell 4.1% to close at $4.50 on Wednesday.

Ares Commercial Real Estate Corporation (ACRE)

• On Feb. 22, Ares Commercial Real Estate reported a GAAP net loss of $39.4 million or 73 cents per diluted common share. The company’s stock fell around 19% over the past month and has a 52-week low of $7.52.
• RSI Value: 27.16
• ACRE Price Action: Shares of Ares Commercial Real Estate fell 0.1% to close at $8.19 on Wednesday.

Meridian Corporation (MRBK)

• On Jan. 26, Meridian posted downbeat quarterly earnings and a commentary about the challenging period ahead. The company’s stock fell around 25% over the past month and has a 52-week low of $7.80.
• RSI Value: 26.45
• MRBK Price Action: Shares of Meridian closed at $9.84 on Wednesday.

OptimumBank Holdings, Inc. (OPHC)

• On Feb. 5, OptimumBank said it ended the year with net income of $13,808,107 before credit loss and tax expenses, or $7,254,285 including those expenses. The company’s shares lost around 7% over the past month and has a 52-week low of $2.77.
• RSI Value: 26.75
• OPHC Price Action: Shares of OptimumBank gained 4.4% to close at $4.2490 on Wednesday.

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