Bank deals continue this month with FCBI getting over 1.6 times book and a 50% premium in the stock. Last night also Sandler O'Neill selling for $485 million to Piper. These are fabulous prices still. It looks like OPY, is in play now or going to at least $35 to $40 on fundamentals. Not sure if the Sandler deal will make OPY wake up. Best breakout since 2017 for OPY.
OPY trading well this month breaking out last week as we said and more significant volume Monday. Look for a new high soon on earnings, or a sale anyday. So cheap still.
We are still adding slowly more GNBF and MCPH, if you have the right brokers or contacts, you can find the stock in size on both.
Just 4% cash now due to OPY all in.
Still no “shorts” but this may change today.
Small banks are safe and deep value investors get rich if you buy at the right prices.
This market is very high priced stay with cheap bank stocks.
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