Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Activist Lawrence Seidman Ups His Position in OBA Financial

Activist, OBA Financial: Activist Lawrence Seidman recently disclosed increasing his position in OBA Financial Services Inc (NASDAQ:OBAF). In a filing with the Securities and Exchange Commission, the manager of Seidman and Associates, L.L.C. reported owning 327,154 shares of the company, up from the previously disclosed amount of 279,312 shares. The current position represents 8.10% of OBA Financial and has a value of almost $6.1 million, at current market prices. Seidman is seeking for OBA Financial Services to sell the company in order to increase the value of shareholders’ investments.

OBAF-logo

In a letter attached to an earlier filing, Seidman stated that OBA Financial Services “has failed to meaningfully grow its assets since becoming a public company in January, 2010.  Further, OBAF’s return on average assets and return on average equity is abysmal.  OBAF’s poor efficiency ratio, the highest among its peers, as shown in the chart below, partially explains OBAF’s extremely poor financial performance metrics.” You can read the full text of the letter from the SEC filing by accessing the link below.

Seidman’s Letter to OBA Financial Services

Howard Guberman’s Gruss Asset Management also owns 90,000 shares of OBA Financial Services.

Disclosure: none

Recommended Reading:

Andrew Feldstein and Stephen Siderow’s BlueMountain Capital Joins the Party at Chatham Lodging Trust

HG Vora Capital Wants to ‘Enhance Value’ at Chatham Lodging REIT

Peter Kolchinsky’s Biotech Fund Doubles Achillion Pharmaceuticals Position

Loading...