I started planning to write about Southside Bancshares (NASDAQ:SBSI) a couple weeks ago and the situation has only become more interesting.
Southside recently made a move to acquire the overcapitalized OmniAmerican Bancorp (NASDAQ:OABC) - with its sub 3% ROE - and the stock subsequently sold off from around $30 to $25.94 as of the close Friday. Not only did this sell-off trigger some price alerts on my end, but the acquisition itself looks strategically intelligent. And if the acquisition does not go through, as Unconventional Capital Wisdom mused in an article on the subject, the market may revalue SBSI back to $30.
There are a lot of cross currents in the markets: the IPO market is...
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