How were you able to determine that it is hitting on all cylinders when statements were just released today? Is your judgment solely based on the earnings release?
After looking at the financial statements, I still feel that not all divisions are delivering. With that said, I am starting to rethink the $28 ceiling.
The reason is that as things stabilize we are seeing rising industry P/B ratios. Financials are rapidly catching up to the P/B market norm again. And at 0.82 it is starting to look at the low side when compared with the current industry average.
It could easily be at 0.92 which would bring it a little over $30. But trading close to its book value is not totally out of the question either. Besides, the norm for financials right now is to trade at book value. Just look at the XLF.