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Monica Wolfe
Monica Wolfe
Articles (757) 

Bank of South Carolina Reports First Quarter Results and 8 Insider Buys

April 17, 2013 | About:

In the past week Bank of South Carolina (BKSC) has reported eight insider buys coming from four different corporate officers. This cluster of insider buys occurred on both April 11 and April 16.

On April 11 Chairman of the Board and 10% Owner Hugh Lane, President Fleetwood Hassell, Director David Schools, and Executive VP of Finance and CFO Sheryl Sharry all bought 1,189 shares at $12.41. They each spent $14,755.50 for a cumulative total of $59,022.

On April 16 these same four insiders added an additional 2,000 shares each at $12.74 per share. They each spent $25,480 for a cumulative total of $101,920.

These four corporate executives have a consistent and successful track record of investing together.

The Price of the Bank of South Carolina is nearing a 5-year high of $13.18.

The GuruFocus analysis of BKSC reports that the company has no debt, but that its operating margin has been a 5-year decline. The average rate of decline is -2.3%. The analysis also shows that the P/E and P/S Ratios are also nearing a 2- and 3-year low respectively.

The 10-year financials of Bank of South Carolina show that the company has seen an increase in revenue and net income since 2009. The earnings per share have also increased for the past four years.

Market Cap: 54.3 M P/E: 15.4 Shiller P/E: 17.2
P/B: 1.8 P/S: 4.02 EV/EBITDA: 3.04
52 Week Low: 10.36 52 Week High: 13.18 Average Volume: 2,274

Bank of South Carolina is a state-chartered financial institution with depository accounts insured by the FDIC. The bank offers local deposit services as well as small loans for business and personal use.

BKSC reported its first quarter earnings on April 9. The bank announced earnings of $998,805 or $0.22 per share for the quarter ended March 31, 2013. This represents an increase of 12.13% from the first quarter of 2012.

“We are quite pleased with our first quarter earnings report,” Fleetwood Hassell said. “The ongoing contribution of our mortgage operation, coupled with excellent control of our non-interest expenses, continues to drive our numbers. Bank lending remains flat, yet our new account activity and deposit growth is strong. We are off to a good start for 2013.”

There are currently no gurus with stake in Bank of South Carolina.

With its shares down 4.39% today, BKSC trades at $12.42.

To view a complete list of insider transactions at Bank of South Carolina, look at the company’s insider trade history page.

  • 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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GuruFocus has detected 1 Warning Sign with Bank of South Carolina Corp $BKSC.
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