Top 5 Financial Stocks That Could Blast Off In July

The most oversold stocks in the financial sector presents 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.

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

The Progressive Corporation (NYSE: PGR)

• Progressive reported below-consensus second-quarter results. The company disclosed Q2 net premiums earned an increase of 19% Y/Y to $14.46 billion, which missed the consensus estimate of $14.98 billion. The company’s stock has a 52-week low of $109.42 .
• RSI Value: 25.93
• PGR Price Action: Shares of Progressive gained 1.8% to close at $116.79 on Friday.

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI)

• Cherry Hill Mortgage posted downbeat quarterly earnings. "The persistently challenging macro environment, exacerbated by recent bank liquidity headwinds, impacted book value in the quarter," said Jay Lown, President and Chief Executive Officer of Cherry Hill Mortgage Investment Corporation. It has a 52-week low of $4.18.
• RSI Value: 25.27
• CHMI Price Action: Shares of Cherry Hill Mortgage Investment fell 1.2% to close at $4.19 on Friday.

Maiden Holdings, Ltd. (NASDAQ: MHLD)

• Maiden Hldgs reported a sharp rise in first-quarter sales. The company’s stock has a 52-week low of $1.64.
• RSI Value: 26.73
• MHLD Price Action: Shares of Maiden Holdings fell 1.7% to close at $1.70 on Friday.

Republic First Bancorp, Inc. (NASDAQ: FRBK)

• Republic First Bancorp recently announced the election of Andrew Cohen as independent chairman of the board. The company’s 52-week low is $0.62.
• RSI Value: 29.77
• FRBK Price Action: Shares of Republic First Bancorp fell 4.5% to close at $0.7664 on Friday.

The Allstate Corporation (NYSE: ALL)

• Piper Sandler recently maintained Allstate with an Overweight and lowered the price target from $141 to $137. The company has a 52-week low of $100.97.
• RSI Value: 27.87
• ALL Price Action: Shares of Allstate fell 3.5% to close at $101.18 on Friday.

Read More: Wall Street's Most Accurate Analysts Say Hold These 3 Tech Stocks Delivering High-Dividend Yields