With interest rates in the UK running at a generational high, the banking sector is one of the bright spots in the UK economy to invest in. While many investors will typically buy into the big brand high street names, these same banks have been conceding a lot of ground to smaller and leaner operations who are changing the way both retail and business banking work.
This week we are buying shares in another listed bank at 518p. The stock ticks a lot of our boxes, including a good macroeconomic story, and a very low PE ratio (4.11) which makes it look extremely cheap. Even better, it is well off its 52 week high of 621p and we think eminently capable of reaching 600p in a matter of weeks not months.
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