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First PacTrust Keeps Buying
Posted by: Monica Wolfe (IP Logged)
Date: March 21, 2013 04:51PM
Earlier this month, we saw six insiders from First PacTrust (BANC) make insider buys in to the company; well they’ve done it again. From March 13 to March 15, five more insiders made sizable buys into the company. During the past week, five more corporate executives added 14,400 shares to their stake costing them a collective total of $161,644. On March 13 Director Daniel Mathis added 3,000 shares at $11.06 for a total of $33,180. Mathis now holds on to 3,000 shares of BANC.
On March 15, Executive Vice PresidentVP, Treasurer and CIO Craig Naselow bought 4,000 shares. The shares traded for $11.15 per share, costing Naselow $44,600. Naselow now holds on to at least 34,000 shares.
On March 19, Director James Gray added 400 shares for $11.21 per share. This transaction cost him $4,484. Gray now holds 4,200 in the company.
On March 20, Executive Vice President and CFO Ronald Nicolas bought 5,000 shares for $11.34 each. This trade cost him $56,700. Also yesterday, CEO Steven Sugarman added another 2,000 shares to his stake costing him $22,680.
First PacTrust Bancorp (BANC) is a $1.7 billion multi-bank holding company. The company provides commercial, residential and consumer banking in California as well as loan offices in Arizona, Oregon and Washington. Based out of Irvine, Calif., First PacTrust has a market cap of $133.1 million.
First PacTrust suffers from a low Pitroski F-Score of 3. This implies poor business operation. GuruFocus also noted that PacTrust’s Altman Z-Score of 0.19 places it in the distress zone. This implies bankruptcy is a possibility within the next few years. On the upside, the company’s dividend yield (4.29%) is close to a three-year high (4.52%). Also, the P/B ratio for the company (0.69) is close to the one-year low of 0.65.
There are currently no Gurus followed by GuruFocus that hold shares in First PacTrust.
With its shares up 0.53%, First PacTrust trades at $11.44.
For more information on First PacTrust’s insider trades, look at the First PacTrust insider history page.
Stocks Discussed: BANC,