In the world of bank stock investing, analysts use the price to book value ratio to gauge just how cheap or expensive a bank stock really is. Typically, a price to book value ratio above two is considered expensive for banks while a ratio below one is considered cheap.
If a cheap bank’s price to book value ratio is below one, then a ridiculously cheap bank stock must trade well below even that modest threshold. And, in that regard, these four banks are about as cheap as you can get.