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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: 56Chevy who wrote (52506)	10/15/2013 2:50:05 PM
From: Ken Ludwig	Read Replies (1) \| Respond to of 78744

JAXB Reverser stock split coming up in less than 10 days. Approved by board 10/24 date of split.

To: 56Chevy who wrote (52506)	10/15/2013 6:11:03 PM
From: MCsweet	1 Recommendation Recommended By Jurgis Bekepuris Read Replies (2) \| Respond to of 78744

Ok 56Chevy, I'd like to learn more about banks. What is so attractive about JAXB? A recent press release mentioned tangible book around 0.30, with the stock trading at 0.50. Quarterly Net interest income at 5 million+ looks good, but noninterest expense is 5 million+, so I don't see where they are going to earn a lot of money. Shareholders have been diluted a ton from recent offerings. There must be something attractive given the recent institutional purchase of shares in the stock offering, but I don't see it. Thanks, MC

To: 56Chevy who wrote (52506)	10/16/2013 1:00:08 AM
From: Spekulatius	1 Recommendation Recommended By Jurgis Bekepuris Read Replies (1) \| Respond to of 78744

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.