Financials (XLF) Are Looking Cheap Again

Financial stocks have gotten back into buy territory again. They have been beaten down badly by the market drop. Many of the country’s largest banks are trading much cheaper than they were just a month ago. Bank of America (BAC) is trading at $12 per share which is conservatively 6 times earnings. Wells Fargo (WFC), a Buffett favorite has dropped to $23 a share. This is pretty cheap for such a premium franchise. Even JPMorgan Chase (JPM) is trading at just 9 times earnings at $35 per share. Adventurous investors may find some bargains by taking a look through the financial sector.