Insights

2 financial ASX shares to buy right now: experts

Here are a pair of finance stocks that you may not have heard of, but Wilson Asset Management analysts rate as buys
The post 2 financial ASX shares to buy right now: experts appeared first on The Motley Fool Australia. –

As Australia grapples with the double-vaccinated lifestyle, crazy house prices and still near-zero interest rates, major turbulence has rocked financial ASX shares.

For example, Westpac Banking Corp (ASX: WBC) shares have lost 15% over the past month, while the market turned on former darling Commonwealth Bank of Australia (ASX: CBA), shaving 10% off in the past week.

But with economic activity expected to pick up as the country moves beyond COVID-19 lockdowns, there will be no shortage of work for the finance sector.

Here are a pair of ASX shares that Wilson Asset Management analysts have singled out as ‘buy’:

The Tasmanian coming over to the mainland

With a market capitalisation of $512 million, MyState Limited (ASX: MYS) is definitely small fish compared to the big four banks.

Wilson equity analyst Sam Koch said the Tasmanian ASX share is starting to ramp up its presence on the east coast of the mainland.

“We recently participated in a capital raising the business did. They’re looking to deploy those proceeds in a way that could grow their loan book over time,” he told a WAM YouTube video.

“We think it could almost double their loan book over the next couple of years. MyState’s a buy.”

MyState shares have remained flat this year, just up 0.21% since the New Year’s fireworks.

ASX share going gangbusters in the US

Senior investment analyst Shaun Weick would buy Credit Corp Group Limited (ASX: CCP) right now.

Similar to MyState, shares for the debt buyer have remained flat in 2021, rising just 1.1%.

According to Weick, purchased debt ledger (PDL) volumes “have been depressed” in recent times due to the coronavirus pandemic.

“But we think as the economy reopens and the stimulus benefits unwind, you will see it pick up in credit growth activity.”

The analyst also thought Credit Corp leadership has done well to triple its “flow share” in the US market during the pandemic period.

“As those volumes recover, we can see a very strong growth trajectory for that US business — so we’ve got that one as a ‘buy’.”

Wilson Asset Management is not the only one high on this ASX share. Earlier this month, Ord Minnett slapped on a price target of $32 for the stock.

Credit Corp shares closed Tuesday at $31.15.

The post 2 financial ASX shares to buy right now: experts appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Brokers highly rate these 2 ASX shares

5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!