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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (19982)	12/29/2004 4:59:37 AM
From: blankmind	Read Replies (1) \| Respond to of 78476

Paul, - on AMNT - amnet mortgage - currently at $8.40 - its a good stock & trading below its $10.54 book value. They basically are super-efficient at underwriting & closing mortgages & moving into other loan products. But they’re not making money. But I still own some shares. - If you want a stock that’s below book value & making money - look at CSBK & MIGP - i don’t see how you can lose on either one provided you’re patient - good luck CSBK - Clifton Savings Bank in NJ: as of 9/30/04’s finl’s: · net inc up to $1.34 mill - which is growing as they apply their ipo monies (vs. $991k in 2Q04) · little under 14 mill shs - so $.40 eps annualized. But earnings should keep growing as ipo proceeds deployed. - which bodes well for raising the .12 annual dividend · everything is up - including equity - now at $201.9 mill ($201.9 mill/14 mill shs = $14.42 book value per share) · earnings look legite w/ no 1-time gimmics · stock at $12.40; book value of $14.42; earnings growing nicely 9/30/04’s finl’s: MIGP - Mercer Insurance - a broker-underwriter in NJ: · for 3Q04 - Earnings of $1.1 mill or .17/eps diluted; for 9 monhts - eps of .38 diluted · combined ratio is 95.6% · revs & prem growing about 13% annually · invest income increase to $639k - vs. $400k last yr - due to ipo monies · wow - on the buyback - all 250k shs were purchased - only declared on 6/16/04- on 10/20/04 - another 250k authorized · MIGP is at $13.30; book value over $16 diluted; eps in ’05 should be around $.80