I brought some this week in the $9.30-9.50 range (My favorite small Bank right now). Here is what I like.
1) RWCB earned .34 versus .24 last quarter. This is the cheapest bank I know, I think the stock should be trading close to $15.
2) RWCB Yields about 2.6%, which is decent.
3) RWCB is not just a cheap story, but is also and amazing growth story with Loans up 6% sequentially, and 20% y/y. So this is a great growth story that pays a divy. RWCB also trades very close to book value as well.
Conclusion: I like RWCB and think it is a undervalued growth story in the small bank space. All is just my opinion, and I could always be wrong though.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.