Ocean Shore Holding Co. (OSHC) - NASDAQ
  • Wed, Jul. 13, 8:30 AM
    • Ocean Shore (NASDAQ:OSHC) owners will receive $4.35 per share in cash and 0.9667 shares of OceanFirst (NASDAQ:OCFC) common stock for each share of OSHC they hold, a value of about $22.47 per share at current prices. Last night's close was $16.93.
    • The price equates to 132% of March 31 tangible book value.
    • OcwenFirst expects EPS accretion of about 5.4% in 2018.
    • A conference call is set for 11 ET
    • Ocean Shore has been a longtime favorite of SA contributor Chris DeMuth, who touted the bank as a takeover target.
    | Wed, Jul. 13, 8:30 AM | 6 Comments
  • Sep. 13, 2013, 9:33 AM
    • It's another community bank deal with Simmons First (SFNC) winning bankruptcy court approval to buy Metropolitan National Bank from Rogers Bancshares for $53.6M in cash.
    • MNB has assets of $991M - including loans of $484M - and deposits of $862M. Total equity foots to $62M, with a Tier 1 leverage ratio of 6.46%.
    • Raymond James and Stephens both upgrade Simmons to Buy in lieu of what appears to be an accretive deal.
    • In other community bank M&A news, Larry Seidman ups the pressure (SEC form 13, go to Exhibit A at the end) on OBA Bank (OBAF) to put itself on the block. Seidman owns about 6.9% of the bank's stock.
    • OBA and Ocean Shore Holding (OSHC) are two tapped by SA author Chris DeMuth (OBAF here, OSHC here) as having takeout potential at a significant premium to their current prices following the end of a 3-year moratorium on their sales.
    | Sep. 13, 2013, 9:33 AM
  • Apr. 30, 2013, 3:55 PM

    Ocean Shore Holding (OSHC +1.4%) gets an afternoon lift as Chris DeMuth files a 13D showing he and his hedge fund have been busily adding to their stake in the Jersey shore bank, now controlling 7% of the shares. DeMuth's top idea in 2012 when it was a $10 stock, Ocean Shore remains an acquisition target, says DeMuth, with still at least a 20% upside necessary to get shareholder approval.

    | Apr. 30, 2013, 3:55 PM
Company Description
Ocean Shore Holding Co. operates as a bank holding company, which engages in the business of directing, planning, and coordinating the business activities of the Bank. The company through its subsidiary bank, Ocean City Home Bank, which is a federally chartered savings bank, operates as a... More
Sector: Financial
Industry: Regional - Northeast Banks
Country: United States