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Strategies & Market Trends : Value Investing
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To: MiamiGent who wrote (52421)9/23/2013 9:57:33 AM
From: Spekulatius  Read Replies (2) of 78730
 
Re FBP - according to my calculation, FBP tangible book is ~5.6$/share. This is based on FBP's latest 10q- 1220M$ in equity -63M$ (preferred stock)/207M shares.

1.1x book for a bank that is racking up losses in a failing economy (Puerto Rico) is too much, imo. I can buy lot's of profitable regional US banks for 1.1x tangible book.
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