Financials were the clear winners today, particularly regional banks. I have been pounding my fist for the past few months about financial stocks. They’re likely the first ones to recover when the market turns bullish. A lot of bank stocks look particularly cheap because they have such low price-to-book ratios. A good example is Superior Bank (NASDAQ: SUPR) that has book value of $16.43 but is only trading at $3.25. On the surface, it looks like a bargain but you have to look more closely at the company to get a clearer picture…
There are few companies that are as hard to spell or pronounce as Susquehanna Bancshares (NASDAQ: SUSQ). Fortunately, stocks are traded by their ticker symbols and not their names so lucky for SUSQ. In any case, I am spotlighting SUSQ today for a variety of reasons. First, and most obvious, their stock went up 4.1% closing at $6.08 today. Secondly, their intrinsic value is high — a book value of $19.20 per share and ttm P/E of 36 [...]
It’s been a rough couple of days for financial stocks this week but I think there are still some hidden gems. Despite the negative sentiment towards anything financial-related today, there were a few bright spots — one of them called Intervest Bancshares (NASDAQ: IBCA). IBCA ended the day up 10% at $2.86 on almost 6x average volume [...]
