VantageSouth Bancshares: 6 Different Insiders Have Purchased Shares This Year

| About: VantageSouth Bancshares, (VSB)

In this article, I will feature one bank that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increased their holdings by more than 10%.

VantageSouth Bancshares (NYSEMKT:VSB) operates as the bank holding company for VantageSouth Bank that provides commercial banking solutions for individuals, businesses, business owners, and professionals in North Carolina.

Insider buying during the last 30 days

Here is a table of VantageSouth's insider-trading activity during the last 30 days by insider.

Name Title Trade Date Shares Purchased Current Ownership Increase In Shares
Steven Jones Bank President Feb 3 2,500 12,819 shares +24.2%
David Therit PAO Jan 31 1,000 2,000 shares +100%
Joseph Lamb Director Jan 31 32,190 437,361 shares +7.9%
David Brody Director Jan 31 155,643 157,643 shares +7,782.2%
Adam Abram Director Jan 31 97,276 107,976 shares +909.1%
George Davis Director Jan 31 9,728 111,843 shares +9.5%

There have been 298,337 shares purchased by insiders during the last 30 days. Joseph Lamb, David Brody, Adam Abram, and George Davis purchased shares pursuant to a private placement at a $5.14 share price.

Insider buying by calendar month

Here is a table of VantageSouth's insider-trading activity by calendar month.

Month

Insider buying / shares

Insider selling / shares

February 2014 2,500 0
January 2014 295,837 0
December 2013 0 0
November 2013 0 0
October 2013 0 0
September 2013 1,182 0
August 2013 3,820 0
July 2013 0 0
June 2013 0 0

May 2013

48,200

0

April 2013

0

0

March 2013

2,000

0

February 2013

9,935

0

January 2013

0

0

There have been 363,474 shares purchased, and there have been zero shares sold by insiders since January 2013. The month of January 2014 has seen the most insider buying.

Financials

VantageSouth reported the full-year 2013 financial results on January 29 with the following highlights:

Net interest income $64.6 million

Net income

$4.7 million

Book value

$4.12 per share

Tangible book value

$3.42 per share

News

VantageSouth closed a $47 million private placement on January 31.

Competition

VantageSouth's competitors include United Community Banks (NASDAQ:UCBI), Union First Market Bankshares (NASDAQ:UBSH), and First Financial Holdings (SCBT). Here is a table comparing these companies.

Company VSB UCBI UBSH SCBT
Market Cap: 261.40M 988.93M 578.94M 1.40B
Employees: 474 1,496 1,024 N/A
Qtrly Rev Growth (yoy): 0.04 0.18 0.31 0.86
Revenue: 82.03M 199.65M 184.30M 325.21M
Operating Margin: 0.22 0.22 0.27 0.38
Net Income: 4.68M 250.28M 34.50M 47.87M
EPS: 0.11 4.29 1.38 2.38
P/E: 53.08 3.88 16.80 24.72
PEG (5 yr expected): N/A 0.47 1.77 1.29
P/S: 3.21 4.70 3.15 4.34

VantageSouth has the second-lowest P/S ratio among these four companies.

Here is a table of these competitors' insider-trading activities during the last 12 months.

Company Insider buying / shares Insider selling / shares
UCBI 3,593 0
UBSH 3,300 116,510
SCBT 3,395 1,831

Only VantageSouth has seen intensive insider buying during the last 30 days.

Conclusion

There have been six different insiders buying VantageSouth, and there have not been any insiders selling VantageSouth during the last 30 days. Four of these six insiders increased their holdings by more than 10%. VantageSouth has an insider ownership of 0.50%.

The insiders purchased most of their shares at $5.14, which could be a good entry point for the stock based on the intensive insider buying.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in VSB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Tagged: , , , Regional - Mid-Atlantic Banks
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