We haven’t discussed this one for a while. There was a 20% pop in the last 2 months. P/B is still well under 1.0. Revenues have been flat for some time, shares outstanding down slightly. Cash flow is miniscule - investing in expansion, maybe? Delisted a few months ago, so news is hard to come by.
Vince
Also noting that TCBC and another Jim favorite, NECB, have seen equity/assets fall to around 16%.
Yeah, the whole sector has moved a bit with falling rates and the potential for more, though the 10-year yield is up quite a bit from recent lows. Florida is an attractive geography for acquisitions, and credit unions can do deals here and overpay.
Jim
A little food for thought here: October: Why does Esquire print money? Why can't Ponce do the same?
Jim