I'm amazed at how this stock just keeps coming down. At the current price it trades at only 70% of Q1 '11 book value. The median price to book over the past 8 years has been 1.04x. If the stock were to trade there in 2 years, this would be a return of 47% or 21% compounded from today.
The stock has traded as high as 1.41x book (in 2005). If it went there... you do the math!