10/18/2019

Market Intelligence

If you rank all the banks on the KBW Nasdaq Regional Banking Index by valuation, there is an obvious outlier: First Financial Bankshares. Its stock trades for 4.29 times its tangible book value per share. That’s more than twice the average on the index, which is 1.75 times tangible book value. There isn’t even a close second. Shares of the runner-up, DeWitt, New York-based Community Bank System, trade for 3.16 times tangible book value – a hefty multiple in its own right. Logic seems to suggest that this is a reflection of First Financial’s superior profitability. But while the $8…

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WRITTEN BY

John Maxfield

Freelancer

John Maxfield is a freelance writer for Bank Director magazine. He was previously the senior banking specialist at The Motley Fool. He regularly writes for Bank Director magazine and BankDirector.com. His work has been syndicated widely to national publications including USA Today, Time and Business Insider, and he’s been a regular guest on CNBC. John has a bachelor’s degree in economics from Lewis & Clark College and a juris doctorate from Southern Methodist University. He’s a licensed attorney in the State of Oregon.

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