Van Lanschot Kempen intrinsic value and stock price

The https://en.wikipedia.org/wiki/Graham_number is also not usually used for financial companies like banks.

For banks and real estate I have decided to use 1 x book value instead of 1,5 x book value which makes more sense for other industries. The Graham Value is the geometric average of 15 x Earnings per Share and Book Value x  1,5 (in this case x 1).

The company is paying out a special dividend of EUR 1,5 / EUR 22,6 = 7% on December 19th 2018. 

Conclusion December 2018: Like other Dutch stocks and banks, Van Lanschot seems like a buy at the moment.

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