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Weekly CFO Buys Highlight: Bank of South Carolina Corp., Citizens First Corp, Martin Midstream Partners L.P. Ltd. Part., ECB Bancorp Inc

April 25, 2010 | About:
gurujk

gurujk

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According to GuruFocus Insider Data, these are the largest CFO buys during the past week:Bank of South Carolina Corp. (BKSC), Citizens First Corp (CZFC), ECB Bancorp Inc (ECBE), and Martin Midstream Partners L.P. Ltd. Part (MMLP).

Bank of South Carolina Corp. (BKSC): EVP/CFO/Treasurer Sheryl G Sharry Bought 8,000 Shares

EVP/CFO/Treasurer of Bank of South Carolina Corp. (BKSC) Sheryl G Sharry bought 8,000 shares on 04/16/2010 at an average price of $10.5. BANK OF SOUTH CAROLINA CORP. is a one-bank holding company engaged, through its subsidiary,in general banking business. Bank Of South Carolina Corp. has a market cap of $45.5 million; its shares were traded at around $11.35 with a P/E ratio of 25.2 and P/S ratio of 3.3. The dividend yield of Bank Of South Carolina Corp. stocks is 3.5%. Bank Of South Carolina Corp. had an annual average earning growth of 2.4% over the past 10 years.

President & CEO, 10% Owner Hugh C Lane Jr, EVP/CFO/Treasurer Sheryl G Sharry, and Director Thomas C Stevenson Iii bought shares of BKSC stock.

Citizens First Corp (CZFC): EVP and CFO Steve Marcum Bought 1,000 Shares

EVP and CFO of Citizens First Corp (CZFC) Steve Marcum bought 1,000 shares on 04/20/2010 at an average price of $7. CITIZENS FIRST CORPORATION operates as a holding company for Citizens First, Inc. Citizens First Corp has a market cap of $14.1 million; its shares were traded at around $7.1501 with and P/S ratio of 0.7.

Citizens First Corporation reported third quarter financial results. For the quarter ended September 30, 2009, the Company reported net income before dividends to preferred shareholders of $327,000. Net income available to common shareholders was $71,000 or, $0.03 per basic and diluted common share for the quarter ending September 30, 2009. Net interest income for the quarter ended September 30, 2009 increased $45,000, or 1.6%, compared to the previous year. Net interest income for the nine month period ended September 30, 2009 decreased $174,000, or 2.1%, compared to the previous year.

President and CEO M Todd Kanipe, ]: EVP and CFO Steve Marcum, and Director Amy Hale Milliken bought shares of CZFC stock.

ECB Bancorp Inc (ECBE): CFO Thomas M Crowder Bought 800 Shares

CFO of ECB Bancorp Inc (ECBE) Thomas M Crowder bought 800 shares on 04/22/2010 at an average price of $16.5. ECB Bancorp Inc. operations are primarily retail oriented and directed toward individuals, small- and medium-sized businesses and local governmental units located in its banking markets, and its deposits and loans are derived primarily from customers in its banking markets. Ecb Bancorp Inc has a market cap of $48.4 million; its shares were traded at around $16.966 with a P/E ratio of 94.2 and P/S ratio of 0.9. The dividend yield of Ecb Bancorp Inc stocks is 1.7%.

ECB Bancorp, Inc. announced its results for the three months ended March 31, 2010. For the three months ended March 31, 2010, net income totaled $487,000, a 61.1% decrease from the $1,253,000 in net income for the three months ended March 31, 2009. After adjusting for $265,000 in preferred stock dividends and the accretion of warrant discount, net income available to common shareholders for the three months ended March 31, 2010 was $222,000 or $0.08 per diluted share compared to $1,046,000 or $0.37 per diluted share for the three months ended March 31, 2009. Consolidated assets increased 3.7% to $897,754,000 at March 31, 2010 from $865,383,000 at March 31, 2009.

President and CEO A Dwight Utz, CFO Thomas M Crowder, and Director Joseph T Jr Lamb bought shares of ECBE stock.

Martin Midstream Partners L.P. Ltd. Part (MMLP): Executive VP and CFO Robert D Bondurant Bought 111 Shares

Executive VP and CFO of Martin Midstream Partners L.P. Ltd. Part (MMLP) Robert D Bondurant bought 111 shares on 04/16/2010 at an average price of $31.09. Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. Martin Midstream Partners L.p. Ltd. Part has a market cap of $573.4 million; its shares were traded at around $32.38 with a P/E ratio of 32.8 and P/S ratio of 0.8. The dividend yield of Martin Midstream Partners L.p. Ltd. Part stocks is 9.2%.

MMLP is in the portfolios of Jim Simons of Renaissance Technologies LLC.

Martin Midstream Partners L.P. announced its financial results for the fourth quarter and year ended December 31, 2009. MMLP reported net income for the fourth quarter of 2009 of $2.0 million, or $0.15 per limited partner unit. This compared to net income for the fourth quarter of 2008 of $17.0 million, or $1.08 per limited partner unit. Revenues for the fourth quarter of 2009 were $200.9 million compared to $236.1 million for the fourth quarter of 2008. Fourth quarter 2009 net income was negatively impacted by a $0.2 million, or $0.01 per limited partner unit, non-cash derivatives loss from certain commodity and interest rate hedges that did not qualify for hedge accounting. Fourth quarter 2008 net income was positively impacted by a $0.8 million, or $0.06 per limited partner unit, non-cash derivatives gain from certain commodity and interest rate hedges that did not qualify for hedge accounting.

President and CEO, 10% Owner Ruben S Martin, Executive VP and CFO Robert D Bondurant, and Executive V.P. Randall Tauscher bought shares of MMLP stock.

For the complete list of stocks that bought by their CFOs, go to: Insider Buys.

  • 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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