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.
