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Weekly CFO Buys Highlight: MTG, STIR, WFC, NBBC

May 01, 2011 | About:
gurujk

gurujk

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According to GuruFocus Insider Data, the largest CFO buys during the past week were MGIC INVESTMENT CORP. (MTG), STAG INDUSTRIAL INC. (STIR), WELLS FARGO & CO. (WFC), and NewBridge Bancorp (NBBC).

MGIC Investment Corp. (MTG): Executive VP & CFO Jon Michael Lauer Bought 20,000 Shares

Executive VP & CFO of MGIC Investment Corp. (MTG) Jon Michael Lauer bought 20,000 shares on 04/21/2011 at an average price of $7.7. MGIC Investment Corporation is a holding company which, through its wholly owned subsidiary, Mortgage Guaranty Insurance Corporation, is the provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. MGIC Investment Corp. has a market cap of $1.74 billion; its shares were traded at around $8.66 with and P/S ratio of 1.1.

MGIC Investment Corporation reported a net loss for the quarter ended March 31, 2011, of $33.7 million, compared with a net loss of $150.1 million for the same quarter a year ago. Diluted loss per share was $0.17 for the quarter ending March 31, 2011, compared to diluted loss per share of $1.20 for the same quarter a year ago. Total revenues for the first quarter were $353.1 million, compared with $370.8 million in the first quarter last year.

Chairman and CEO Curt S Culver, Executive VP & CFO Jon Michael Lauer, and President and COO Patrick Sinks bought shares of MTG stock.

STAG Industrial Inc. (STIR): CFO, EVP and Treasurer Gregory W. Sullivan Bought 15,834 Shares

CFO, EVP and Treasurer of STAG Industrial Inc. (STIR) Gregory W. Sullivan bought 15,834 shares on 04/25/2011 at an average price of $12.15.

Chairman, CEO and President Benjamin S. Butcher, CFO, EVP and Treasurer Gregory W. Sullivan, and Director Francis X Jacoby Iii bought shares of STIR stock.

Wells Fargo & Co. (WFC): Senior Executive VP & CFO Timothy J. Sloan Bought 10,000 Shares

Senior Executive VP & CFO of Wells Fargo & Co. (WFC) Timothy J. Sloan bought 10,000 shares on 04/21/2011 at an average price of $28.54. Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. Wells Fargo & Co. has a market cap of $153.69 billion; its shares were traded at around $29.11 with a P/E ratio of 11.9 and P/S ratio of 1.6. The dividend yield of Wells Fargo & Co. stocks is 0.7%. Wells Fargo & Co. had an annual average earnings growth of 5.4% over the past 10 years.

On April 20, 2011, Wells Fargo & Company reported record net income of $3.8 billion, or $0.67 per diluted common share, for first quarter 2011, up from $2.5 billion, or $0.45 per share, for first quarter 2010. Revenue was $20.3 billion, compared with $21.5 billion in fourth quarter 2010 and $21.4 billion in first quarter 2010.

Senior Executive VP & CFO Timothy J. Sloan bought shares of Wells Fargo & Co. stock.

Sr. Executive Vice President Mark C. Oman sold shares of Wells Fargo & Co. stock.

NewBridge Bancorp (NBBC): EVP and CFO Ramsey K. Hamadi Bought 3,000 Shares

EVP and CFO of NewBridge Bancorp (NBBC) Ramsey K. Hamadi bought 3,000 shares during the past week at an average price of $4.45. LSB Bancshares Inc. is a bank holding company whose principal business is providing banking and other financial services through its banking subsidiary. Newbridge Bancorp has a market cap of $71.9 million; its shares were traded at around $4.5999 with a P/E ratio of 92 and P/S ratio of 0.6.

NewBridge Bancorp reported financial results for the fourth quarter and fiscal year ended Dec. 31, 2010. For the fourth quarter, net income totaled $1.1 million compared to $51,000 for the fourth quarter ended Dec. 31, 2009. After dividends and accretion on preferred stock, the company reported net income available to common shareholders of $390,000, or $0.02 per diluted share. After dividends and accretion on preferred stock in the prior year’s fourth quarter, the net loss available to common shareholders was ($679,000), or ($0.04) per diluted share.

EVP and CFO Ramsey K Hamadi, Director Barry Z Dodson, and EVP and CFO Ramsey K Hamadi bought shares of NBBC stock.
  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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