I think we can call a near bottom in the case of DRL and BPOP and a 3,50$ for FBP.
This market has already oversold most of the US banks and these 3 are now on sale at the price well below book value:
BPOP 2.07 = 0,61 of their book value
DRL 1.37 = 0.37 of their book value
FBP 3.46 = 0.13 of htteir book value
Sure Puerto Rico is having a hard time recovering from the last recession and it may take another year but at these prices, it is worth to start accumulating on the down dips. Expectations of profits are within the next 12 months:
BPOP 5,75$ (this is the one where it is absolutely oversold)
DRL 2,72$
FBP 5,25$
As usual never invest more than you can afford to lose and consult your financial planner before investing in any stocks.
This market has already oversold most of the US banks and these 3 are now on sale at the price well below book value:
BPOP 2.07 = 0,61 of their book value
DRL 1.37 = 0.37 of their book value
FBP 3.46 = 0.13 of htteir book value
Sure Puerto Rico is having a hard time recovering from the last recession and it may take another year but at these prices, it is worth to start accumulating on the down dips. Expectations of profits are within the next 12 months:
BPOP 5,75$ (this is the one where it is absolutely oversold)
DRL 2,72$
FBP 5,25$
As usual never invest more than you can afford to lose and consult your financial planner before investing in any stocks.
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