RE:Valuation CheckWell, I've been noticing that too, this might have something to do with it;
* EQB's earnings yield based off of the past quarters earnings is still higher than HCG, even at these prices, EQB is selling at a lower P/E
* EQB's return on equity is higher than HCG, by a significant amount
* EQB pays a dividend, while HCG would return capital through buybacks, which it cannot currently do
So EQB sells at a lower P/E, has higher ROE and pays a dividend.
There might be something of a decoupling between the two, as EQB comes to be regarded as a higher quality bank (which I would agree with), with more of a resemblance to the big six than tp HCG. People looking to do some buying are probably looking at both and feeling EQB looks better.
I own both, having bought a mountain of EQB and a fairly decent position in HCG a couple weeks back as posted on both boards.
HCG does have much more capital than EQB, that's what HCG does have going for it.