In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Hcsb Financial Corp (OTCMKTS:HCFB) reported that Rmb Capital Management, Llc has picked up 35,968,163 of common stock as of 2017-07-25.
The acquisition brings the aggregate amount owned by Rmb Capital Management, Llc to a total of 35,968,163 representing a 9.5% in the company.
For those not familiar with the company, HCSB Financial Corporation is a holding company for Horry County State Bank (the Bank). The Bank is a state chartered bank. Its primary market includes Horry County in South Carolina and Columbus and Brunswick Counties in North Carolina. The Company’s segments include Commercial, Commercial Real Estate, Consumer and Residential. From its over eight branch locations, it offers a range of deposit services, including checking accounts, savings accounts, certificates of deposit, money market accounts, and individual retirement account (IRAs), as well as a range of non-deposit investment services. In addition, it offers a range of loan products designed for consumers, businesses and farmers. The Bank also offers other services, such as cash management services, sweep accounts, repurchase agreements, mobile banking, remote deposit capture, safe deposit boxes, travelers checks, direct deposit of payroll and social security checks, online banking and automatic drafts for various accounts..
A glance at Hcsb Financial Corp (OTCMKTS:HCFB)’s key stats reveals a current market capitalization of 66.16 Million based on 495.76 Million shares outstanding and a price at last close of $0.133 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2016-08-01, Harris picked up 200,000 at a purchase price of $0.10.This brings their total holding to 200,000 as of the date of the filing.
On the sell side, the most recent transaction saw Grainger unload 55,227 shares at a sale price of $0.12. This brings their total holding to 9,067.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Hcsb Financial Corp (OTCMKTS:HCFB) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.