Investors are beginning to shop for bargains in the depressed shares of thrift institutions, now that short-term interest rates may be near a peak.

"Historically, the thrift stocks have been almost entirely interest rate plays. They usually do very well as rates stabilize," said analyst Gary Gordon of PaineWebber Inc., New York.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.