Pilgrim Bancshares Inc. (OTCMKTS:PLRM) is Attracting Smart Money


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Pilgrim Bancshares Inc. (OTCMKTS:PLRM) reported that Seidman Lawrence B has picked up 23,367 of common stock as of 2017-05-30.

The acquisition brings the aggregate amount owned by Seidman Lawrence B to a total of 23,367 representing less than 1.04% stake in the company.

For those not familiar with the company, Pilgrim Bancshares, Inc. is a bank holding company for Pilgrim Bank (the Bank). The Bank conducts its operations from its main office and an adjacent operations center in Cohasset, Massachusetts and over two additional full-service banking offices located in Cohasset and Marion, Massachusetts. The Bank is engaged principally in the business of attracting deposits from the general public and investing those deposits, together with funds generated from operations. The Bank is focused on one- to four-family owner occupied residential lending, including jumbo mortgages and owner occupied construction loans. It also offers non-owner occupied investment residential loans, commercial real estate loans, multi-family and construction loans, and commercial and industrial loans, and consumer loans. The Bank’s securities are classified as securities available-for-sale and securities held-to-maturity. Deposits are the Bank’s primary source of funds for use in lending and investment activities.

A glance at Pilgrim Bancshares Inc. (OTCMKTS:PLRM)’s key stats reveals a current market capitalization of 36.66 Million based on 2.25 Million shares outstanding and a price at last close of $16.25 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-12-12, Mccourt picked up 435 at a purchase price of $14.77. This brings their total   holding to 12,935 as of the date of the filing.

On the sell side, the most recent transaction saw Noonan unload 1,600 shares at a sale price of $12.85. This brings their total holding to 6,400.

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 Pilgrim Bancshares Inc. (OTCMKTS:PLRM) as things move forward to see if its progress aligns with these transactions.

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