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, according to Benzinga Pro.

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

New York Community Bancorp, Inc. (NYSE:NYCB)

• On Jan. 31, New York Community Bancorp reported worse-than-expected fourth-quarter financial results and reduced its quarterly dividend. The company’s stock fell around 56% over the past month and has a 52-week low of $3.60 .
• RSI Value: 27.65
• NYCB Price Action: Shares of New York Community Bancorp fell 4.1% to close at $4.50 on Wednesday.

Ares Commercial Real Estate Corporation (NYSE:ACRE)

• On Feb. 22, Ares Commercial Real Estate reported GAAP net loss of $39.4 million or 73 cents per diluted common share. The company’s stock fell around 19% over the past month. It has a 52-week low of $7.52.
• RSI Value: 27.16
• ACRE Price Action: Shares of Ares Commercial Real Estate fell 0.1% to close at $8.19 on Wednesday.

Meridian Corporation (NASDAQ:MRBK)

• On Jan. 26, Meridian posted downbeat quarterly earnings. Christopher J. Annas, Chairman and CEO commented, “Meridian’s fourth quarter earnings totaled $571 thousand, which was down from the prior quarter. Contributing to the decline was a necessary additional provision for a non-performing commercial credit, which has experienced some deterioration. In addition, the historical rise in interest rates has had negative impact on our SBA and small-ticket leasing businesses, both of which required additional provisions.” The company’s stock fell around 25% over the past month and has a 52-week low of $7.80.
• RSI Value: 26.45
• MRBK Price Action: Shares of Meridian closed at $9.84 on Wednesday.

OptimumBank Holdings, Inc. (NASDAQ:OPHC)

• On Feb. 5, OptimumBank said it ended the year with net income of $13,808,107 before credit loss and tax expenses, or $7,254,285 including those expenses. The company’s shares lost around 7% over the past month. The company’s 52-week low is $2.77.
• RSI Value: 26.75
• OPHC Price Action: Shares of OptimumBank gained 4.4% to close at $4.2490 on Wednesday.

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