Tangible Book Value Per Share Banks

Book value per share. Further most investors understand that there is some tradeoff between earnings today and investing for higher earnings in the future. Many bank stocks are still trading below tangible book value.

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Tbvps determines the potential value per share of a company in the.

Tangible book value per share banks. Tangible book value per share tbvps is the value of a company s tangible assets divided by its current outstanding shares. Understanding price to tangible book value ptbv in theory a stock s tangible book value per share represents the amount of money an investor would receive for each share if a company were to. The formula for tbvps is.

Book value per share tells investors what a bank s or any stock s book value is on a per share basis. To calculate the tangible book value per share malcolm finds that the firm s number of shares outstanding is 2 000 000 million. According to the formula company xyz s tbvps is.

Tangible book value per share is calculated as the total tangible equity divided by shares outstanding eop. Royal bank of canada s tangible book value per share for the quarter that ended in jul. Total tangible equity is calculated as the total stockholders equity minus preferred stock minus intangible assets.

Most banks are sold for more than their tangible book value and berkshire s tangible book value at the end of the third quarter was 22 22 per share so it could have upside from here if it is. To arrive at this number subtract liabilities from assets. Tbvps tangible assets shares outstanding.

Tangible book value per share valuation is inherently forward looking and historical growth rates are useful mostly as potential predictors of future growth. That makes share buybacks immediately accretive in terms of both earnings per share and tangible book value. Tangible book value total assets total liabilities intangible assets value goodwill 97 366 53 125 7 789 12 706 23 746 million the firm s tbv is 23 8 million.

Let s assume company xyz has 10 million in tangible assets which appears on the balance sheet and 1 million shares outstanding. Citi s consensus analyst target price is 76 15 and its 52 week range is 48 42. Citigroup ended 2018 with a stated book value of 75 05 per share and a tangible book value of 63 79 per share.