From Nasdaq:

Tim Melvin, a seasoned value investor, remains bullish on regional banks despite their worst performance since the March 2023 sell-off. Shares of New York Community Bancorp have fallen 42% this week, while the broader regional banking sector fell 7%. Melvin points out the differences in bank exposure to commercial real estate, suggesting smaller towns are less vulnerable. He also criticized the pervasive pessimism surrounding regional bank stocks and sees a clear buying opportunity.

Amid a tumultuous week for regional banks, Tim Melvin, a seasoned value investor, remains undeterred in his bullish outlook on the sector. Despite widespread pessimism, Melvin identifies the current market conditions as ripe with opportunity for patient investors. He spoke in an exclusive interview with Benzinga regarding New York Community Bancorp’s isolated decline, emphasizing that this should not be seen as indicative of a sector-wide issue. He also points out the differences in bank exposure to commercial real estate, suggesting smaller towns are less vulnerable. Melvin also criticizes the pervasive pessimism surrounding regional bank stocks and sees a clear buying opportunity. He also commented on the ongoing consolidation within the banking sector, noting it as a necessary evolution given the competitive landscape, which includes around 4,500 banks and 2,700 credit unions.



Read more: EXCLUSIVE: Regional Banks A Buying Opportunity Amid ‘Ridiculously Cheap Valuations,’ Veteran Value Investor Says