by a large amount and the stock is hardly down while HCBK beat earnings and the stock was punished by providing HONEST and CONSERTATIVE guidance.The last two days of turbulence in HCBK is an opportunity for long term investors.
You have to remember that BAC is already selling at a 20% discount to its book value. HCBK was selling at 20% PREMIUM to its book when Hermance dropped his bomb.It is an interesting comparison though. I'd look for HCBK to possibly visit something around ~0.8x book value if it cuts its dividend. This would be around $9.