Quick Value #192 - Thrift Conversion
11.6.23 - Thrift trading at big discount to book value, big excess capital, and a shareholder friendly management team
This week’s Quick Value covers a former thrift conversion with a flush balance sheet (tons of excess capital) and a management team that has long been shareholder friendly in returning that capital. They’ve gotten more aggressive with buybacks during the banking crisis as the stock dips below book value.
We’ll be back next week with a free edition of Quick Value. Sign up below for access to all posts! (If you’re into bank/thrift ideas, this is a pretty cool one.)