|Added to #8 2018 SITT TT pick today LYBC.|
LYBC.OB-I bought some earlier (mentioned here). It's a rare OTC BB buy for me, and the only banking stock I've ever owned. I had a GTC order in. This stock rarely trades and is very illiquid (less than 1 million outstanding). It might even be easily manipulated. I personally feel comfortable buying it because it's local, and IMO has a decent balance sheet, and dividend yield. I even know most of the tellers by first name at my local branch. It just recently opened up a Senaca Falls branch. It will most likely be a long term holding for me. BTW-The stock is so Illiquid my recent buys can easily be tracked in historical trades. I do think it's also a possible takeover someday. Most likely IMO by another local OCT BB bank called Canandaigua National Corp. (CNND.OB).
I looked at buying that stock, and passed for now. CNB sells for over 300 dollars a share)and has even less outstanding shares than Lyon's. IMO Canandaigua is still a value, but I think Lyon's is a better value and has better speculative appeal. My Caveat to anybody who might be interested in this one. " Listen to what everybody has to say, but do what you think is right yourself"