I screened with Open Insider for insider buy transactions filed on September 21. I then checked with Stock Charts if the stocks had bullish Point and Figure counts. From this list I chose the top 5 stocks with insider buying in dollar terms. Here is a look at the top 5 stocks:
1. First National Community Bancorp (FNCB.PK) is the bank holding company of First National Community Bank, which provides personal, small business and commercial banking services to individuals and businesses throughout Lackawanna, Luzerne, Monroe and Wayne Counties in Northeastern Pennsylvania. The institution was established as a National Banking Association in 1910 as The First National Bank of Dunmore, and has been operating under its current name since 1988.
- Louis DeNaples purchased 33,885 shares on September 13 and currently holds 78,461 shares of the company. Dr. Louis DeNaples, Jr. is an Independent Director of First National Community Bancorp and serves as a member of the Governance Committee and is the Chairman of the Compensation Committee.
- Dominick DeNaples purchased 11,294 shares on September 13 and currently holds 291,989 shares of the company. Mr. Dominick DeNaples is an Independent Chairman of the Board of First National Community Bancorp and is Chairman of the Directors' Loan Committee. He has been a director of the Bank since 1987.
The company reported the second-quarter financial results on August 24 with the following highlights:
|Net loss||$1.0 million|
|Net cash||$21.5 million|
|Shares outstanding||$16.4 million|
|Net cash per share||$1.31|
The stock has a $9 price target from the Point and Figure chart. There have been three insider buy transactions this year. The latest insider sell transaction was in August 2009. I would recommend only a small position in the stock currently.
2. The Hain Celestial Group (HAIN), headquartered in Melville, NY, is a leading natural and organic products company in North America and Europe. Hain Celestial participates in many natural categories with well-known brands that include Celestial Seasonings, Earth's Best, Terra, Garden of Eatin', Sensible Portions, Health Valley, Arrowhead Mills, MaraNatha, SunSpire, DeBoles, Gluten Free Cafe, Hain Pure Foods, Hollywood, Spectrum Naturals, Spectrum Essentials, Walnut Acres Organic, Imagine, Almond Dream, Rice Dream, Soy Dream, WestSoy, The Greek Gods, Ethnic Gourmet, Yves Veggie Cuisine, Europe's Best, Cully & Sully, New Covent Garden Soup Co., Johnson's Juice Co., Farmhouse Fare, Linda McCartney, Lima, Danival, GG UniqueFiber, Grains Noirs, Natumi, JASON, Zia Natural Skincare, Avalon Organics, Alba Botanica, Queen Helene and Earth's Best TenderCare. Hain Celestial has been providing A Healthy Way of Life since 1993.
Richard Berke purchased 1,000 shares on September 19 and currently holds 18,500 shares of the company. Richard Berke serves as a director of the company.
The company reported the results for the fiscal year ended June 30, 2012 on August 22 with the following highlights:
|Net income||$79.2 million|
The company provided the following guidance for its fiscal year 2013.
- Total net sales range of $1.600 billion to $1.615 billion in sales, approximating 10% to 11% growth over its annualized fiscal year 2012 sales base.
- Earnings of $2.10 to $2.20 per diluted share.
The stock has a $75 price target from the Point and Figure chart. Richard Berke's insider buy on September 19 was the first insider buy transaction since March 2011. There have been 14 insider sell transactions this year. The stock is trading at a forward P/E ratio of 23.05. I believe it is possible that the stock reaches its $75 price target this year.
3. Pulaski Financial Corporation (PULB), operating in its 90th year through its subsidiary, Pulaski Bank, serves customers throughout the St. Louis and Kansas City metropolitan areas and Wichita, Kansas. The bank offers a full line of quality retail and commercial banking products through 13 fullservice branch offices in the St. Louis metropolitan area and offers mortgage loan products through eight loan production offices in the St. Louis and Kansas City metropolitan areas, Joplin, Missouri and Wichita, Kansas.
Stanley Bradshaw purchased 2,310 shares on September 20 and currently holds 191,021 shares of the company. Stanley Bradshaw serves as a director of the company.
The company reported the third fiscal quarter (ending June 30) financial results on July 24 with the following highlights:
|Net income||$2.7 million|
|Book value||$8.18 per share|
Gary Douglass, President and Chief Executive Officer, commented on July 24:
"For our fourth fiscal quarter of 2012, we expect continued core earnings strength similar to what we saw in the June 2012 quarter and continued asset quality improvement. We are also targeting a repurchase of the common stock warrant currently held by the U.S. Treasury to remove the related dilutive overhang and a modest start on redeeming a portion of our outstanding preferred securities."
The stock has a $14.5 price target from the Point and Figure chart. There have been 13 insider buy transactions this year. There has only been one insider sell transaction this year. The stock is trading at a forward P/E ratio of 9.73. I would recommend buying the stock under its book value of $8.18 per share.
4. First Citizens Banc Corp (FCZA) is a bank holding company organized and existing under the laws of the State of Ohio and registered with the Board of Governors of the Federal Reserve System pursuant to the Bank Holding Company Act of 1956, as amended. First Citizens' banking subsidiary is: The Citizens Banking Company, a commercial bank organized and existing under the laws of the State of Ohio.
William Murray purchased 2,500 shares on September 20 and currently controls 180,736 shares of the company. William Murray serves as a director of the company.
The company reported the second-quarter financial results on August 14 with the following highlights:
|Net income||$0.9 million|
|Book value||$10.5 per share|
|Tangible book value||$7.22 per share|
The stock has a $14.75 price target from the Point and Figure chart. There have been 29 insider buy transactions this year. There has only been one insider sell transaction this year. The stock is trading at a forward P/E ratio of 12.56. The stock could be a good pick from current levels.
5. York Water Company's (YORW) business is to impound, purify and distribute water. The company operates entirely within its franchised territory, which covers 33 municipalities within York County, Pennsylvania. The company is regulated by the Pennsylvania Public Utility Commission, or PPUC, in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. The company must obtain PPUC approval before changing any of the aforementioned procedures.
Water service is supplied through the company's own distribution system. The company obtains its water supply from the south branch and east branch of the Codorus Creek, which drains an area of approximately 117 square miles. The company has two reservoirs, Lake Williams and Lake Redman, which together hold up to 2.23 billion gallons of water. The company's present average daily consumption is approximately 18.1 million gallons, and its present average daily availability is approximately 35 million gallons.
Jeffrey Hines' wife purchased 700 shares on September 20. Jeffrey Hines currently holds 38,633 shares of the company. Jeffrey Hines' wife holds 6,985 shares of the company. Jeffrey Hines is the President and CEO of the company.
The company reported the second-quarter financial results on August 8 with the following highlights:
|Net income||$2.2 million|
The stock has a $25.5 price target from the Point and Figure chart. There have been several insiders buying the shares this year. Only one insider has been selling the shares this year. The stock is trading at a forward P/E ratio of 23.06.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in FCZA over the next 72 hours.