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Strong Buy 
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Strong Sell 
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Average rating: 4.00 (Strong Buy) 1.00 - 5.00 (Strong Sell) Total: 1 members

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Nov. 18 2003, 2:37 PM ET
Nearest price: 7.96 (11/18/03)
by elevenwall (profile)
(all of elevenwall's ratings)
(Previous rating: Strong Buy,
on Sep. 30 2003, 09:55 AM ET)
Not inexpensive anymore. A month ago, this stock was at $7.50 per share. Now it is at $10.53. There quarter looked ok but not great. As I am seeing a change in sentiment in the community bank sector I would take profits off the table at $10.50.

Inexpensive, at the current price of $7.50 per share is trading at 106% of book value and 129% of tangible book value. In the most recent quarter they cleaned up their asset quality. If they cut costs and become more efficient they will have a very valuable franchise. With $366 million in assets in the southern California market, this stock should trade up from its current levels. With consolidation in southern CA picking up (BZBC went for nearly 3x tangible book) the upside is much larger than the downside.

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