With TMCV's broad retail investor base and limited float or shares traded, the bank may not be pushing for research coverage. Also, the stock may still be a little over-valued for mutual funds or institutial investors to get a good entry point.
Hello Al. Good to see your post.
Share results of TMCV say much to recommend the stock. Consider:
Price 6/2000 $ 7.00 per share
Price 12/2005 $22.00 per share
12/2003 2:1 split
In approximately five years the share price has tripled in value, and we now hold twice as many shares. So if you bought 100 shares in year 2000, those shares would now be worth $4,400, an increase of about 529 percent including the split. ($4400-700=$3700./.700=529%)
I wish one half of my investments would do so well ! Good wishes.
This bank has been trading at 3 to 4 times book for the past 5 years. Get a new broker who knows the California bank market. Call the bank and get their list of brokers that handle the stock. Big brokerage companies do not understand or like small banks. The reason for this is when you buy from them they have to buy from the small bank brokers and you are paying 2 brokerage fees.
This is what I understand-
It has been a back of the book stock until recently. When I would call up and tell my broker that I wanted to buy it- he would have to read me a warning because it was a back of the book stock. No one know about this stock yet in the real world. Most of the people that own this stock live in the Temecula/ Fallbrook, CA area. I feel that the big boys don't know about this stock yet! I personally know 2 of the insiders and they started the bank in 1996. I think that this is still a local stock but watch out!!! Its going big!
Director options are for a specific period, usually 10 years. This could be one of those situations where they had to buy and are rich with net worth and poor on cash. When the option is exercised there is also a heavy tax burden as you must pay taxes on the difference between the option price and the market value.
What I do not understand about this stock is why there are not mutual funds or institutial investors all over it
I wish insiders shared your enthusiasm for the stock. In January, six insiders sold a total of 48,000 shares, mostly from option grants, I believe.
But, having said that, the financials appear very strong on all fronts in the 4th quarter.
I have been a stock holder for almost 10 years. I love this stock! Although I have owned them for all these years I have never used there services until just the other day. I had enough with mortgage brokers out there so I decided to call there Fallbrook office and talk to them about switching over some of my investment properties to them. They have been so great and pleasent to work with. No wonder why this stock keeps going up year after year. Once this transaction goes throught, I will start switching over all my bank accounts and I will use TMCV for all my mortgage needs for now on! If you buy and hold onto this stock- you will make money! This is a stong company!