EPS still growing. Long term rate still in upper teens. I've owned this stock for 17 months and am still underwater. I paid too much, but if I paid too much in Feb 1998 then some day perhaps somebody else will pay too much for my shares and I can get the return from EPS growth in the interim.
Paying $23.50 for this stock won't be too high. This bank is a moneymaker in terms of profitability. This bank should be trading at $26.00, which is about 2.5 X book value. Because of the stock's poor performance, the board is going to have to take some action on its own, like a 3 for 2 stock split. I think this will happen no later than the 1st quarter of 2000. This bank has yet to split its stock. Any comments?
Here is another bank for you. Check out CBN. Has a very conservative loan portfolio. Thin float. Board owns over 40%. They just formed a holding company, which means that they will buy new business. Don't let the price get away from you. Another one I like a lot is AMMB. Good luck and happy investing.