40's. Even good banks in a recessionary environment should command no more than a 9 or 10 P/E. STI will be lucky to make $4.00 in 2008.You do the math. LOL
So I bought some today at $43.60. Maybe not bottom but 2-5 years out or less I'll be very happy.
Suppose they net $3.45 per share profit and the PE contracts from overall market to 8 = $27.60 ?oucherWhy does this stock always gravitate to 'book value' ?