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Snag This Deal Even Lower Than Director Hannah Did

By Market News Video Staff, Tuesday, November 29, 1:57 PM ET
Play Video: One Reason For Insiders to Buy


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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 13, Athens Bancshares Corp's Director, G. Scott Hannah, invested $8,016.00 into 600 shares of AFCB, for a cost per share of $13.36. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Tuesday, bargain hunters could buy shares of Athens Bancshares Corp (NASDAQ:AFCB) and achieve a cost basis 6.9% cheaper than Hannah, with shares changing hands as low as $12.44 per share. It should be noted that Hannah has collected $0.10/share in dividends since the time of their purchase, so they are currently down 6.1% on their purchase from a total return basis. Athens Bancshares Corp shares are currently trading up about 0.7% on the day. The chart below shows the one year performance of AFCB shares, versus its 200 day moving average:

Athens Bancshares Corp Chart

Looking at the chart above, AFCB's low point in its 52 week range is $9.56 per share, with $14.05 as the 52 week high point that compares with a last trade of $12.45. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
06/13/2011 G. Scott Hannah Director 600 $13.36 $8,016.00

AFCB operates in the Banking & Savings sector, among companies like BB&T Corp. (NYSE:BBT) which is down about 0.4% today, and Barclays PLC (NYSE:BCS) trading higher by about 1.2%. Below is a three month price history chart comparing the stock performance of AFCB, versus BBT and BCS.

AFCB,BBT,BCS Relative Performance Chart


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