SNFCA
I brought some SNFCA the last week to 10 days here and there in the 4.40's here is what I like.
1) Trades under book value significantly, not a big deal for me, but it is a huge difference between book and price per share, one of the biggest discount I have ever seen a stock trade at recently. And asset quality looks fine at this point.
2) I like buying companies going into their stronger seasonal periods, I expect earnings to be in the $0.20-0.30 range the next two quarters hence I think it get a pop into the 6's and that happens where I feel FV is. When I sold in the 5.30's after q4, I thought it was dead money for a while, I'm glad I did because I had a opportunity to buyback months later in the 4.40's and going into the seasonally strong period versus the weak period.
Conclusion: I like buying things on the beatup side or having pulled back and SNFCA is definetly fitting that criteria. I believe it is also cheap and decent upside as I feel FV is in the 6's and we are trading in the 4.40's. So I think SNFCA is undervalued and very attractive, I will continue to acquire shares on weakness. All is just my opinion, and I could always be wrong though.
