Farmers & Merchants Bank Of Long Beach Is Significantly Undervalued

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About: Farmers & Merchants Bank of Long Beach (FMBL), Includes: CVBF
by: Maverick Value, LLC
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Summary

FMBL is a top-tier bank within its peer group, yet its price to tangible book multiple is the lowest.

Unlike its peers, FMBL has demonstrated its ability to generate consistent profitability and steady ROA over a full economic cycle.

At less than 1x tangible book value, FMBL is worth significantly more and offers limited downside.

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