I tried to do some research on the book value, but it seems that every site was showing different figures on the book value. What was offered was from a low of $11 plus change to a high of $18 plus change. Don't know which site was correct,what or whom was doing the figures and what their citeria was in coming to their conclusion.
Once owned some shares of a bank in Texas that had a great book value were paying a fantastic dividend and the next thing I knew they were bankrupt. My past experience has been that the company controls most of the variables in determining book value.
I could point you to a company that is selling below book value and is paying over a 6% dividend, but I would not invest in them at their current price.
You are right, but remember, the banking industry has had a tough couple years. As the economy continues to strenghten,especially NC, and all banks improve their margins, I believe the stock will resume it 17 P/E.
BB&T did not do as well as they expected, but they continued to outperform their competitors. Not in stock performance, but in actual results.