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FCAL Trading Below Director's Recent Buy Price

By Market News Video Staff, Tuesday, December 13, 1:16 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 December 7, First California Financial Group, Inc.'s Director, Joseph N. Cohen, invested $34,470.00 into 10,000 shares of FCAL, for a cost per share of $3.45. 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 First California Financial Group, Inc. (FCAL) and achieve a cost basis even cheaper than Cohen, with shares changing hands as low as $3.43 per share. First California Financial Group, Inc. shares are currently trading down about 2% on the day. The chart below shows the one year performance of FCAL shares, versus its 200 day moving average:

First California Financial Group, Inc. Chart

Looking at the chart above, FCAL's low point in its 52 week range is $2.41 per share, with $4.09 as the 52 week high point that compares with a last trade of $3.44. 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
12/07/2011 Joseph N. Cohen Director 10,000 $3.45 $34,470.00

FCAL operates in the Banking & Savings sector, among companies like BB&T Corp. (NYSE:BBT) which is up about 1.3% today, and HDFC Bank Ltd (NYSE:HDB) trading up by about 1.6%. Below is a three month price history chart comparing the stock performance of FCAL, versus BBT and HDB.

FCAL,BBT,HDB Relative Performance Chart


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