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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (57774)	8/15/2016 4:24:22 PM
From: E_K_S	1 Recommendation Recommended By CusterInvestor Read Replies (1) of 78702

Security National Financial Corp. (SNFCA) - Q2 earnings $0.32/share; BV +7% to $8.56/share A very nice report as Revenues were +7.5% Security National Financial Corporation Reports Financial Results for the Second Quarter of 2016 If the company can just maintain it's EPS @ $0.32 x 4 = $1.28/share annual, The stock is cheap selling at 5x forward PE. Company did state they got an inquiry letter from HUD/FHA regarding loans originated from 1/2006 (aprox 46K loans). No mention of audit and/or demand. I sold 25% of my position, selling my high cost shares booking a small profit. My plan is to peel off shares up to $7.50/share at $0.50/share increments. This is thinly traded so liquidity is limited. Stock traded 10x ADV on today's earnings. FWIW, company appears to be valuing assets conservatively so stated BV at $8.56/share appears to be accurate. From Q2 report: o Book value per common share was $8.56 as of June 30, 2016, compared to $8.01 as of December 31, 2015 o As of June 30, 2016, there were 14,041,230 shares outstanding. This is 14% higher than what Yahoo shows at 12.25mln shares. EKS

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