Kenneth Compton, director of Sunshine Bancorp Inc. (SBCP, Financial), purchased 2,550 shares of the company in six transactions on April 20. The shares were purchased for an average price of $21.1 per share, according to SEC filings.
Compton now owns 17,706 total shares of the company.
Headquartered in Plant City, Florida, Sunshine Bancorp operates as a savings and loan holding company for Sunshine State Bank. The company provides financial services to individuals, families and businesses in Hillsborough County and Pasco County, Florida.
The bank's main business consists of attracting retail deposits from the general public in its market area and investing those deposits in commercial real estate loans, commercial business loans and, to a lesser extent, multi-family real estate, land and construction and consumer loans.
Sunshine offers online banking services and remote deposit capture. It offers commercial term loans, lines of credit, agricultural production, equipment financing and revolving lines of credit. The bank offers a range of deposit accounts, including noninterest-bearing demand accounts, interest-bearing demand accounts, money market accounts, savings accounts and time deposits.
Sunshine Bancorp has a market cap of $169.92 million, an enterprise value of $212.05 million, a price-earnings (P/E) ratio of 134, a price-book (P/B) ratio of 1.46 and a price-sales (P/S) ratio of 4.95.
According to GuruFocus, the company has a 5 of 10 financial strength rating with a cash-debt ratio of 0.97, an equity-asset ratio of 0.12 and an interest coverage ratio of 1.
The company has a 2 of 10 profitability and growth rating. It has an operating margin of 9.38% and a net margin of 5.48%. It has a return on assets (ROA) of 0.21% and a return on equity (ROE) of 1.62%. Its Beneish M-Score of -1.84 indicates it manipulates its financial statements.
Over the previous year, Sunshine Bancorp’s market price has gained an estimated 53%.
On April 17, Sunshine Bancorp released its unaudited consolidated financial results for the first quarter of 2017.
- The company reported 21 cents per based and diluted share.
- Year-over-year revenue growth of 90%.
- Annualized deposit growth of 22% led by non-interest bearing deposits.
- Maintained top-tier credit metrics with NPAs to assets at 0.06%.
- The company also recognized net income of $1.6 million for the first quarter of 2017 compared with net loss of $514,000 for fourth-quarter 2016 and net income of $154,000 for first-quarter 2016.
Below is a list of Sunshine Bancorp’s largest institutional shareholders.
Source: The Financial Times
Guru Jim Simons (Trades, Portfolio) purchased a stake in Sunshine Bancorp during the fourth quarter of 2016. Since then, the company’s stock price has gained an estimated 36%.
According to the Peter Lynch Chart below, Sunshine Bancorp is trading above its intrinsic value.
Disclosure: Author does not own any shares of this company.
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