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The firm trades at 20% below its book value, compared with 25% above for Goldman.
Its stock, now at $12.89, trades 29percentt below its book value.
Citigroup, one of the nation's largest banking companies, is now trading below its book value.
But analysts saw MBS lawsuits as the biggest of the legacy risks dragging the bank's share price below its book value.Some risks remain.
One of China's big three lenders, Bank of China, now trades below its book value, and the other two are not far off.
FBR Capital analyst Bijan Moazami believes that Allstate is trading below its book value.
Lehman started the day at $22.25, which is already below its book value of $39 a share and below an equity capital raise earlier this month of $28 a share.
For banks Levy and Wojcik typically get interested when the price of a share is close to or below its book value.
Book multiple items at once.
Alas, Phoenix's bottom line hasn't been so golden, and the market has beaten the stock down to just half its book value of $20.30 per share, well below its industry multiple of 1.5.
Over the past 10 years, its price-to-book multiple has averaged 2.3.
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CEO of Professional Science Editing for Scientists @ prosciediting.com