The financial sector has been one of the most beaten-down portions of the stock market since the COVID-19 pandemic began. So far in 2020, the Financial Select Sector ETF (NYSEMKT: XLF) is still down by 21%, compared with the broad S&P 500 index, which has recouped its earlier loses and is now up by just over 1%. The pandemic has created tremendous uncertainty about consumers' ability to repay their loans and debts, and the record-low interest environment isn't exactly great for bank profits.
That said, there could be serious value to be found now in some bank industry stocks for patient, long-term investors. Here's why U.S. Bancorp (NYSE: USB), Wells Fargo (NYSE: WFC), and Goldman Sachs (NYSE: GS) should be on your radar while the COVID-19 pandemic rages on.
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Source Fool.com