FFHD Making Investors Happy
In recent news, FirstAtlantic Financial Holdings (OTCQX: FFHD) or First Atlantic Bank has experienced an uptick in volume. FFHD is a fully reporting holding company for FirstAtlantic Bank, a full service community bank headquartered in Jacksonville, FL. According to their reports, they have $436M in assets, and eight “financial centers” located in eastern Florida. The banking unit has a 5-Star rating from Bauer Financial, Inc. which they claim is the nation’s leading bank rating firm, and a 3-Star rating from Morningstar.
There are a few reasons for this volume increase and we’ll get into them in sufficient detail to give the casual investor a likely plan of action. First off, just a few days ago on Ausust 16, 2017 FirstAtlantic Financial Holdings (FFHD) announced a merger with the National Bank of Commerce (NBC) a Delaware corporation headquartered in Alabama. The announcement states that FFHD will continue to operate (and trade) under its own name after the merger is finalized, but the combined institution will reportedly boast approximately $3.1Bn in assets. The parent company of NBC, National Commerce Corporation (NCOM) is listed on NASDAQ.
Prior to the merger FFHD stock was trading from $10.40 to $16.85 and according to the terms of the agreement, every share of FFHD stock issued or outstanding prior to the merger will be converted into 0.44 shares of NCC common stock – or – be purchased for $17.25 in cash with a few details pertaining to NCC’s stake in the merger and the effect on outstanding purchase options left to be ironed out in the form of option cancellation and payment of an amount equal to the difference between $17.25 and the option exercise price. For those interested, NCC’s stock has traded between $35.00 and $40.45 through the past three quarters.
NCC has filed a registration statement form S-4 with the SEC to register shares of NCC common stock to be issued to shareholders of FirstAtlantic but FFHD will continue to be operated, managed and traded under its own name for the foreseeable future.
The other reasons for the recent uptick include a positive earnings report issued in August and the hire of a new Assistant Vice President.
As mentioned previously, FFHD has seen a recent spike in volume. It currently sits at about 95,700, but the 52-week average is still only 7,095. Price as of August 18, a few days after the merger announcement is at $16.76, which is a sharp spike over the previous year, with the price going from around $10 in August of 2016 up to $13.60 a week before the merger.
If you’re interested in detailed financial reports and news, these items are available at the company’s website: https://www.firstatlantic.bank/About-Us/Investor-Relations.
Based on our analysis, this one is likely to retract just a bit over the next week or so, but a continued steady growth curve topping out at up to $25 within a year or so is definitely not out of the question. Of course, anything could happen including another spike resulting from positive news or greater publicity.
Pl Capital is Buying Bankfinancial Corp (NASDAQ:BFIN) Shares
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Bankfinancial Corp (NASDAQ:BFIN) reported that Pl Capital, Llc has picked up 1,378,625 of common stock as of 2017-04-27.
The acquisition brings the aggregate amount owned by Pl Capital, Llc to a total of 1,378,625 representing less than 7.2% stake in the company.
For those not familiar with the company, BankFinancial Corporation is the bank holding company for BankFinancial, National Association (the Bank). The Bank is a full-service, community-oriented national bank principally engaged in the business of commercial, family and personal banking. The Bank offers its customers a range of loan, deposit and other financial products and services through its full-service Illinois-based banking offices located in Cook, DuPage, Lake and Will Counties, and through its Internet branch, www.bankfinancial.com. As of December 31, 2016, the Bank had 19 full-service Illinois-based banking offices. The Bank also offers its customers a range of financial products and services that are related or ancillary to loans and deposits, including cash management, funds transfers, bill payment, and other online and mobile banking transactions, automated teller machines, safe deposit boxes, trust services, wealth management and general insurance agency services.
A glance at Bankfinancial Corp (NASDAQ:BFIN)’s key stats reveals a current market capitalization of 284.90 Million based on 18.38 Million shares outstanding and a price at last close of $14.74 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2013-06-19, Oneill picked up 100 at a purchase price of $8.16. This brings their total holding to 100 as of the date of the filing.
On the sell side, the most recent transaction saw Manos unload 300 shares at a sale price of $14.60. This brings their total holding to 41,904.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Bankfinancial Corp (NASDAQ:BFIN) as things move forward to see if its progress aligns with these transactions.
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Guess who picked Independent Bank Group Inc. (NASDAQ:IBTX) Shares
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Independent Bank Group Inc. (NASDAQ:IBTX) reported that Lee Thomas H has picked up 1,933,495 of common stock as of 2017-04-11.
The acquisition brings the aggregate amount owned by Lee Thomas H to a total of 1,933,495 representing a 7.0% stake in the company.
For those not familiar with the company, Independent Bank Group, Inc. is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area. The Company offers residential mortgages through its mortgage brokerage division. As a mortgage broker, the Company originates residential mortgages, which are sold into the secondary market shortly after closing. The Company also provides wealth management services to its customers, including investment advisory and other related services. The Company offers a range of commercial and retail lending products to businesses, professionals and individuals. Deposits are the Company’s principal source of funds for use in lending and other general banking purposes.
A glance at Independent Bank Group Inc. (NASDAQ:IBTX)’s key stats reveals a current market capitalization of 1.68 Billion based on 27.73 Million shares outstanding and a price at last close of $61.15 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-13, Radke picked up 4,000 at a purchase price of $33.86. This brings their total holding to 14,000 as of the date of the filing.
On the sell side, the most recent transaction saw Smith unload 10,000 shares at a sale price of $66.30. This brings their total holding to 90,151.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Independent Bank Group Inc. (NASDAQ:IBTX) as things move forward to see if its progress aligns with these transactions.
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Guess Who Picked Up 1St Constitution Bancorp (NASDAQ:FCCY) Shares
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), 1St Constitution Bancorp (NASDAQ:FCCY) reported that Mangano Robert F has picked up 506,207 of common stock as of 2017-04-05.
The acquisition brings the aggregate amount owned by Mangano Robert F to a total of 506,207 representing a 6.3% stake in the company.
For those not familiar with the company, 1st Constitution Bancorp is the bank holding company for 1st Constitution Bank (the Bank). The Bank is a commercial bank, which is engaged in the business of commercial and retail banking. The Company operates through the Community Banking segment. The Community Banking segment consists of construction, commercial, retail and mortgage banking operations. As a community bank, the Bank offers a range of services (including demand, savings and time deposits and commercial and consumer/installment loans) to individuals, small businesses and not-for-profit organizations principally in the Fort Lee area of Bergen County and in Middlesex, Mercer, Somerset and Monmouth Counties of New Jersey. The Bank’s Mortgage Warehouse Funding Group offers revolving lines of credit that are available to licensed mortgage banking companies (the Warehouse Line of Credit). The Bank’s investment activities are classified as available for sale and held to maturity securities.
A glance at 1St Constitution Bancorp (NASDAQ:FCCY)’s key stats reveals a current market capitalization of 146.49 Million based on 8.03 Million shares outstanding and a price at last close of $18.25 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-02, Barrett picked up 100 at a purchase price of $18.68. This brings their total holding to 100 as of the date of the filing.
On the sell side, the most recent transaction saw Tartaglia unload 500 shares at a sale price of $16.27. This brings their total holding to 20,868.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on 1St Constitution Bancorp (NASDAQ:FCCY) as things move forward to see if its progress aligns with these transactions.
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Guess Who Picked American River Bankshares (NASDAQ:AMRB) Shares
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), American River Bankshares (NASDAQ:AMRB) reported that Maltese Capital Management Llc. has picked up 440,709 of common stock as of 2017-03-30.
The acquisition brings the aggregate amount owned by Maltese Capital Management Llc. to a total of 440,709 representing a 6.60% stake in the company.
For those not familiar with the company, American River Bankshares is a bank holding company. The Company’s banking subsidiary is American River Bank (the Bank). The Bank’s primary business is serving the commercial banking needs of small to mid-sized businesses. The Bank accepts checking and savings deposits; offers money market deposit accounts and certificates of deposit; makes secured and unsecured commercial loans, secured real estate loans, and other installment and term loans, and offers other customary banking services. The Bank also conducts lease financing for various types of business equipment, from computer software to heavy earth-moving equipment. It serves various communities located in Sacramento, Placer, Yolo, El Dorado, Sonoma and Amador counties. It also serves Alameda, Contra Costa and Santa Clara Counties through loan production offices located in the Cities of San Jose and San Ramon. Its loans include real estate construction loans; lease financing receivable; agriculture loans, and consumer loans.
A glance at American River Bankshares (NASDAQ:AMRB)’s key stats reveals a current market capitalization of 98.93 Million based on 6.68 Million shares outstanding and a price at last close of $14.85 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-03, Owensby picked up 3,310 at a purchase price of $15.14. This brings their total holding to 3,310 as of the date of the filing.
On the sell side, the most recent transaction saw Taber unload 78 shares at a sale price of $12.25. This brings their total holding to 151,692.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on American River Bankshares (NASDAQ:AMRB) as things move forward to see if its progress aligns with these transactions.
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