Re JAXB - the stocks looks pretty expensive at 0.5$:
As of June 30, 2013, our net tangible book value was $31.0 million, or $0.29 per common share (based upon total shares outstanding of 105,891,627). Assuming the aggregate offering amount of 10 million shares is sold, and after deducting estimated offering expenses payable by us in the amount of $0.5 million, the estimated net proceeds from the offering will be $4.5 million. Based on the estimated net proceeds from the offering, our pro forma net tangible book value as of June 30, 2013 would have been approximately $35.5 million, or $0.31 per share. On a per common share basis, this represents an immediate increase in the net tangible book value to existing shareholders of $0.02
sec.gov
So at 0.5$, Jaxb trades at 1.6x tangible book. Why would I buy a crummy bank for 1.6x book? I can buy very good regional bank stocks for 1.5x book. Example: finance.yahoo.com
I like CFIS better. |
