It’s been a big earnings week for major US banks with better than expected results from the likes of JPMorgan Chase and Goldman Sachs. But rather than chase their stock higher, Serge Berge has his eyes on smaller regional banks like CIT Group.

Other financial institutions like Bank of America and Wells Fargo failed to impress investors, and the market reaction has matched the earnings reports. 

JPMorgan stock rallied earlier this week, while Bank of America shares fell due to disappointment in the market over the bank’s cost-cutting efforts. Goldman Sachs rose ahead of its first quarter earnings, and rather than getting the tail end of that, Serge Berge says he will wait for the share price to consolidate before buying.