trending Market Intelligence /marketintelligence/en/news-insights/trending/OkGFd-wi4NUxCSUnG1MFQw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Banks with the lowest price-to-adjusted TBV

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Banks with the lowest price-to-adjusted TBV

After losing over one-fifth of its value in a little over a month, San Juan, Puerto Rico-based OFG Bancorp is now trading at a lower price-to-adjusted tangible book value multiple than any other major exchange-traded bank or thrift. The bank had a price-to-adjusted tangible book value ratio of 75.6% as of June 2, down from 96.9% at the end of April.

OFG Bancorp's stock had already been struggling in 2017, losing 10.2% in the year through April. Then on May 3, the Puerto Rico government announced that it would restructure $70 billion of its debt, pushing OFG's stock down another 20.9% between the end of April and June 2. Another Puerto Rico-based bank, First BanCorp., was one of five new entrants in S&P Global Market Intelligence's monthly list of the 25 stocks with the lowest P/ATBV ratio this month.

The other new entrants were: Short Hills, N.J.-based Investors Bancorp Inc., Philadelphia-based Beneficial Bancorp Inc., Wyomissing, Pa.-based Customers Bancorp Inc. and Newton, N.C.-based Peoples Bancorp of North Carolina Inc.

The median P/ATBV ratio for the industry hit 196.1% as of June 2, the lowest level since November, when it was 185.5%. Bank stocks have declined in recent weeks amidst concerns that the Trump administration's pro-business campaign promises may not come to fruition.

The SNL U.S. Bank and Thrift index lost 2.4% between April 28 and June 2, compared to a 2.6% gain for the S&P 500.

To compile this ranking, S&P Global Market Intelligence analyzed operating U.S. banks and thrifts with more than $1 billion in assets that trade on the Nasdaq, NYSE or NYSE MKT exchanges. Public mutual holding companies as well as holding companies with failed banking units were excluded from the analysis. Adjusted tangible book value is calculated as the sum of tangible common equity and loan loss reserves less nonperforming assets and loans 90 days past due but still accruing interest over common shares outstanding.

SNL Image

SNL Image

Click here to see S&P Global Market Intelligence's calculations for price-to-adjusted tangible book value.

Click here for a template that provides pricing trends and profitability ratios for financial institutions.