Top 5 Financial Stocks That Could Sink Your Portfolio In Q2

The most overbought stocks in the financial sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

Northeast Community Bancorp, Inc. NECB

• NorthEast Community Bancorp announced second stock repurchase program of up to 1.509 million shares. The company’s stock has a 52-week high of $15.99 .
• RSI Value: 70.01
• NECB Price Action: Shares of Northeast Community Bancorp fell 4.1% to close at $14.39 on Tuesday.

Artisan Partners Asset Management Inc. APAM

• Artisan Partners Asset posted upbeat quarterly results. The company’s stock has a 52-week high of $40.68.
• RSI Value: 71.28
• APAM Price Action: Shares of Artisan Partners Asset Management fell 2.6% to close at $37.91 on Tuesday.

LendingClub Corporation LC

• Jefferies analyst John Hecht initiated coverage on LendingClub with a Buy rating and announced a price target of $13.5. The company has a 52-week high of $15.79.
• RSI Value: 80.24
• LC Price Action: Shares of LendingClub rose 2.2% to close at $10.09 on Tuesday.

Oxbridge Re Holdings Limited OXBR

• For the three months ended March 31, 2023, Oxbridge Re Holdings generated net income of $142,000. “We were pleased to generate positive performance in the first quarter of 2023 with no losses incurred,” commented Oxbridge Re Holdings Chairman and Chief Executive Officer Jay Madhu. The company’s 52-week high is $4.0380.
• RSI Value: 71.49
• OXBR Price Action: Shares of Oxbridge Re Holdings fell 2.2% to close at $1.81 on Tuesday.

Norwood Financial Corp. NWFL

• Norwood Financial posted a decline in first-quarter EPS. The company has a 52-week high of $34.75.
• RSI Value: 70.66
• NWFL Price Action: Shares of Norwood Financial fell 2% to settle at $31.06 on Tuesday.

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