Check out the 3rd qtr. earnings that just came out. Let's see, they came out Friday afternoon before the close. Insiders can buy first trading session after 48 hours have elapsed from that close ... watch the insiders pounce on this Wednesday morning (10/22). Several insiders just paid a lot more for this stock before the end of the 3rd qtr. I bet this stock closes a lot higher by next Friday (10/24). If you don't see insider buying next week, they are negotiating a sale of the bank and are locked out from buying.
"BUY weakness(overweight)...sell Strength(lighten up)......"?
That works better in a flat market, and maybe with the market in general ... but when individual stocks start moving, someone always knows more than you, especially when insiders are buying ... stock prices can move a lot further in one direction than expected.
I wouldn't trade HBKS ... just buy and hold. The spread is too wide to trade. The CEO was buying at a price over $12 per share, so why be selling at that level. The insiders have a lot better sense of what this stock is worth ... a lot more than $12!
No,they are not selling...as I have stated repeatedly:BUY weakness(overweight)...sell Strength(lighten up)......you should have lightened at the old 12-13 area and should have been loading the boat at 7-9.....TRADE AROUND A CORE POSITION!!!!!!....this is not over night as the worldwide financial situation is no quick fix..but this is your retirement pay-off...follow MI.....PATIENCE!!!!!!!!!!!VaS
I don't understand why anyone would sell this stock unless they need the money. It looks to me like it's trading below book value, and HBKS has real estate on the books that they acquired in 1977... so book value is probably way understated.