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Provident Bank Is Undervalued

With the increased regulatory burden Washington has placed on the nation's largest banks, investors have been looking towards smaller regional banks to deliver strong returns. As such while many large bank like Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), and Citigroup (NYSE:C) trade near or below book value, regional banks are trading at a healthy premium. High quality regional banks like Huntingon Bancshares (NASDAQ:HBAN), Valley National (NYSE:VLY), and BB&T (NYSE:BBT) have been trading at a 25%-35% premium to book value. With regional banks largely sheltered from increased regulation, I believe they have better growth prospects than the money center banks. With this in mind, I began to look...

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