1
The company sold shares at about twice the bank's tangible book value.
2
It's snapping up Hudson at just 82 percent of tangible book value.
3
He said the sector has been trading at a price-to- tangible book value of around 1.
4
PNC and Wells Fargo's shares both trade at more than twice their tangible book value.
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In particular Bank of America, Citigroup and Morgan Stanley are trading below tangible book value it said.
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JPMorgan Chase is trading at about 1.33 times tangible book, he said.
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The purchase price represents a $112 million discount to the tangible book value of the unit.
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The transaction is expected to increase KCG's tangible book value by about $2 per share upon close.
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The price is 1.8 times stated tangible book value.
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He thinks the company will continue trading at a discount to tangible book value because of a single-digit return on equity.
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Its tangible book value per common share will drop by 10 cents to $13.36.
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Almost 70 percent of major global banks are trading below tangible book values, or what they would be worth if liquidated.
13
At the midpoint of that range, the business would have a price-to- tangible book value of 1.4.
14
Allstate said it would pay about $700 million plus the tangible book value of the companies when the deal closes.
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Allstate will pay about $700 million plus the tangible book value of the companies at the close of the deal.
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Citigroup Inc's stock trades at 1.09 times tangible book value, while Goldman Sachs trades at 1.39 times.
