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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (38319)6/18/2010 3:21:28 PM
From: MCsweet  Read Replies (2) of 78704
 
HFBC,

I'm in on this one. On the negative side, I wish I could analyze banks better and their large commercial real estate exposure scares me a bit. And if I were shareholder going into the offering, I'd be steamed seeing the company issue stock at such a cheap price.

However, the artificially low pricing from the stock offering, the 0.12 upcoming dividend (Ex 6/28/2010), profitability through the downturn, location in a fairly bubble-less region, and the discount to tangible book are too much for me to ignore.

I could be wrong, but when the overhang of flippers from the stock offering gets taken out, I think this could rally nicely. And a 0.12 dividend within two weeks certainly doesn't hurt.

Thanks!
MC
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