Webster is valued higher than PBCT as well. WBS enterprise value is 3.3 billion and PBCT is at 2.8 billion.
PBCT's management should be buying all the shares they can afford at these levels. I would use all my cash up and borrow the 2 billion to take the company private. Let's see if they're able to read the same financial metrics I'm reading. This guys get paid the big dollars to be able to understand financial metrics.
Why would management take a stake in this bank. They can just hang around the board room, talk about what they might do some day, draw a decent pay and vest a few options. No risk, it is all upside for them. Wish I could find a job like that.