PPBN
Stock has ran to $21.
Trades under book value so that is a plus.
Loan growth was good y/y, but although there was growth did slow significantly in the 4th quarter versus the 3rd. But there was still growth so that is a positive.
Obviously the stock is cheap based on the $1.17 they earned in the 4th quarter, so it has valuation going for it.
Asset quality looks fine. Although there allowance I would like to see a bit higher than it is.
Obviously the knocks here are liquidity is nonexistant, I mean it traded 100 shares today. Loan growth appear to be slowing down, and the Allowance could be a bit better. The pluses are the valuation, recently raised divy, trades under book, and there is still loan growth with decent asset quality. I will pass primarily because of liquidity, but the stock appears to be undervalued. All is just my opinion, and I could always be wrong though.