Top 3 Financials Stocks That May Jump This Quarter

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The most oversold stocks in the financials sector present an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

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Here's the latest list of major oversold players in this sector, having an RSI near or below 30.

Apollo Commercial Real Estate Finance Inc (NYSE:ARI)

On Aug. 6, the company posted upbeat quarterly earnings. The company's stock fell around 13% over the past month and has a 52-week low of $8.76. RSI Value: 25.60 ARI Price Action: Shares of Apollo Commercial Real Estate Finance fell 0.13 to close at $8.89 on Friday. Benzinga Pro's real-time newsfeed alerted to latest ARI news.

Ready Capital Corp (NYSE:RC)

On Sept. 16, Piper Sandler analyst Crispin Love maintained Ready Capital with a Neutral and lowered the price target from $9.5 to $8.. The company's stock fell around 7% over the past month. It has a 52-week low of $7.23. RSI Value: 29.84 RC Price Action: Shares of Ready Capital fell 1% to close at $7.31 on Friday. Benzinga Pro’s charting tool helped identify the trend in RC stock.

Ellington Financial Inc (NYSE:EFC)

On Aug. 6, Ellington Financial posted weaker-than-expected quarterly results. “Driven by broad-based contributions from our diversified credit and Agency portfolios, as well as from our reverse mortgage platform Longbridge, Ellington Financial generated a non-annualized economic return of 4.5% for the second quarter, and grew adjusted distributable earnings and book value per share sequentially,” said Laurence Penn, Chief Executive Officer and President. The company's shares fell around 5% over the past month and has a 52-week low of $10.88. RSI Value: 29.38 EFC Price Action: Shares of Ellington Financial fell 0.3% to close at $12.46 on Friday. Benzinga Pro’s signals feature notified of a potential breakout in EFC shares.



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This article Top 3 Financials Stocks That May Jump This Quarter originally appeared on Benzinga.com