In scanning the insider transactions for HOMB on Yahoo, it shows a lot of selling over the last 6 months during a time when the stock has had a 20%+ run up from about $33 to over $40. Do the insiders know something the rest of us don’t? The stock has admittedly had a great run over the last 24 months going from about $24 to over $40, and I’m wondering if it’s getting weak legs and maybe management and the BOD know it. When you also consider that it is now trading at over 2.5x tangible book value, you have to wonder how much higher the stock can go, at least in the short run. I will give them this; with an efficiency ratio below 50% they are certainly running a tight ship as it pertains to cost controls. It also explains why I always have to wait no matter which branch I visit as they never seem to have enough staffing in the branches.
I certainly hope the insiders know more than the rest of us, that's why they do such a good job. But everyone has a need for cash for other opportunities from time to time, and wise folks need a little diversification. By the way, I see we have had a new 52 week and all-time high since you wrote this short-sounding little message, with a hidden meaning. Maybe you are going to the wrong branch, or are confused, all I ever receive is excellent speedy service!