That's a great start for 2014!
Doubtful the bank can duplicate that .46 eps for 3 more qtrs only because of where the extra earnings were generated from but if they can do even half that [.23], which is very doable, that would be an annualized EPS of $1.15.
Banks should sell at a P/E of 10
10 X $1.15 = $11.50
Todays Market value is: $5.15
We have an $11.50 bank selling for $5.15....where else can you buy an excellent, transparent, well managed, regulated and profitable business for < 50 cents on the dollar!
Can you spell - Low P/E...value found!
Marker:
Greer Bancshares, In (GRBS)
$5.15 0.0 (0.00%)
Volume: 0
If liabilities are greater than assets, the business is insolvent. Knowing the structure of those liabilities is where to make your money. EI-2010