Another Bank Below Book Value: Premier Financial Bancorp

Premier Financial Bancorp (NASDAQ: PFBI) is a relatively small and sleepy multi-state bank holding company with 47 branch offices across five states and Washington D.C. which originates residential, commercial, and consumer loans and not much else.

However, unlike some of its community banking contemporaries, Premier has a documented history of profitability as it has been profitable on a net income basis in each of the past 10 years including 2008/2009, bears a uninterrupted dividend payout harking back to 1996 amounting to just over a 4% annual yield today, and has a management team with a very well defined strategic plan in place… which they have actually executed upon to date!

As contributed to Seeking Alpha

Seritage Growth Properties: Growth At A Reasonable Price Or Already Fully Priced?

“How do you make money? Spin-offs, split-ups, liquidations, mergers and acquisitions.” – Mario Gabelli

As the name attempts to imply, Seritage Growth Properties (NYSE: SRG) is a Maryland incorporated, self-administered and managed real estate investment trust (REIT) which only recently (July 2015) spun-off from its long-time parent – Sears Holdings Corp. (NASDAQ: SHLD). Something which could not come soon enough as the public offering raised slightly over $1.6 billion for the cash-strapped big box retailer, somewhat easing its liquidity constraints at least for the time being.

As contributed to Seeking Alpha

Is There Really No Place Like HomeStreet? Pt. II

In the first of this two-part series on HomeStreet (NASDAQ: HMST) bank we took a look at some of the things impeding its path to greater efficiency and profitability.

Now, we go into depth on some of the things it has gotten right, attempt to place an approximate value on the bank holding company, and consider catalysts for its potential realization.

As contributed to Seeking Alpha

Is there value in Hammond Manufacturing Co. again?

Electronic racks that hold servers, outlet strips, transformers… if you are still with me, then I commend you for not drifting off to sleep. Hammond (TSX: HMM.A) is a Guelph, Ontario-based electrical component manufacturer, wholesaler and distributor directly to original equipment manufacturers (OEM’s).

As contributed to Equities.com: https://goo.gl/9EV5fe

Is There Really No Place Like HomeStreet? Pt. I

The MG2 re-branded thrift recently turned commercial bank founded in Washington State some 95 years ago has been through a resurgence of late with an expansion into southern California by way of the acquisition of Simplicity Bank completed last March, its CEO Mark Mason being named Seattle Business Magazine’s 2015 “CEO of The Year,” and a gradual improvement in its overall loan book.

We take a look to see if the former Continental Savings Bank can continue this positive momentum or if a return to its darker pre-2012 days may be ahead.

Read the entire article at Seeking Alpha

 

3 Reasons Welltower Could Rise

Here ye’ here ye’ proud to announce i am now officially a Fool (Contributor/Analyst for ) But some already knew that;)

Tis’ the first in a five part series on Welltower, Inc. – the largest public healthcare REIT and the second largest in the US overall: http://goo.gl/qhw65P

 

Flagstar Bancorp: Potential To Fly High

At first glance there is a whole lot to like about Flagstar (NYSE:FBC). The bank holding company is the largest headquartered in the state of Michigan, is the fifth largest savings bank in the country, and they are the official banking partner of the locally beloved and storied Detroit Red Wings NHL franchise…

Read the rest at Seeking Alpha: http://seekingalpha.com/article/3956611-flagstar-bancorp-potential-fly-high

Manning & Napier: A Boutique Below Book Value

“Client focused for more than 40 years” is the tag line one reads upon visiting Manning & Napier’s (NYSE:MN) “about us” page. Given that the average lifespan of an investment manager is roughly 4.5 years, they must be doing at least something right.

As contributed to Seeking Alpha: http://seekingalpha.com/article/3955716-manning-and-napier-boutique-book-value

Taking A Look At Lazard

The firm’s history reads like a true to-life storybook. French immigrants arriving in middle 19th century New Orleans, Louisiana and with meager means establish themselves in business as dry goods merchants under the banner Lazard Freres & Co.

Read more at Seeking Alpha: http://seekingalpha.com/article/3946426-taking-look-lazard

An (updated) Warning & a few words

Thought the above scanned image from Charles Mackay’s 1841 print of Extraordinary Popular Delusions and the Madness of Crowds would be apt for this piece.

For those that personally know me, i am sound a lot like a broken record about now, as i have harped on about the Northern (Canadian) residential real estate market being distorted since at least 2012 (see here), so for those friends, acquaintances and skeptics alike who have not heard this before, i am going to play a “bubble card” and elucidate on a favorite topic once more for all to see – solely using organized, sourced facts and figures as per below:

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