Over the past week or so, shares of Bank of Internet (NASDAQ: BOFI ) have fallen by nearly 25%. The disruptive branchless model of Bank of Internet gives the institution lower overhead than a traditional bank, which is one of the reasons it has been growing at a torrid pace and attracting a lot of investor enthusiasm, but before the sell-off, the bank was trading at over four times its book value, a valuation that many investors just couldn't stomach. Has this big haircut brought Bank of Internet back down out of the stratosphere to an attractive level?
In this segment from Wednesday's Where the Money Is, Motley Fool banking analysts Matt Koppenheffer and David Hanson compare Bank of Internet to a bank in India currently trading at the same price to book value ratio, and answer the question of which one they would rather buy today.
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