Banking industry stock valuations have continued to increase in 2017. As of Feb. 28, the median price-to-tangible book value ratio for major exchange-traded U.S. banks and thrifts was 184.6%, up 18.8 percentage points from SNL’s last quarterly analysis on Nov. 30, 2016.
Birmingham, Ala.-based ServisFirst Bancshares Inc. replaced Conway, Ark.-based Home BancShares Inc. at the top of the charts with a P/TBV ratio of 431.1% as of Feb. 28. The company’s stock has more than doubled over the last year.
