OmniAmerican Bancorp Inc. (OABC): Brown Trout Management Reveals 5.0% Passive Stake

Brown Trout Management, in a new filing with the U.S. Securities and Exchange Commission, has disclosed holding a 5.0% passive stake in OmniAmerican Bancorp Inc. (NASDAQ:OABC). The stake contains 581,175 shares of common stock of OmniAmerican Bancorp Inc. (NASDAQ:OABC), which is the holding company for OmniAmerican Bank.

OmniAmerican Bank, headquartered in Fort Worth, Texas, is engaged in providing banking and financial services primarily to individuals and small- to middle-market businesses in its market area. OmniAmerican Bancorp Inc. (NASDAQ:OABC) has a market cap of $288.1 million. Shares of the company went down by 0.08% on Tuesday to $24.94. It has a 52 week high of $25.73 and a 52 week low of $20.46. For the company’s stock, analysts have the consensus average target price of $25.00, and the consensus average recommendation is ‘Buy.’

At the beginning of May, OmniAmerican Bancorp Inc. (NASDAQ:OABC) released financial results for the quarter ended March 31, 2014. The company reported first-quarter of 2014 net income of $1.5 million, $0.14 per diluted share, compared to net income of $1.9 million, or $0.18 per diluted share, in the same quarter last year, representing a decrease of $404,000, or 20.9%.

In April, OmniAmerican Bancorp Inc. (NASDAQ:OABC) agreed to merge with Southside Bancshares Inc. (NASDAQ:SBSI), which is the parent company of Texas-based Southside Bank. Under the terms of the agreement, OmniAmerican shareholders will receive 0.4459 shares of Southside common stock plus $13.125 in cash for each outstanding share of OmniAmerican common stock. The transaction is valued at about $307 million in aggregate. The merger is expected to close during the fourth quarter of 2014, subject to regulatory approvals and the approval of the shareholders of both companies. The combined entity will operate under the names Southside Bancshares Inc. and Southside Bank, and will have nearly $5 billion in assets.

Aside from Brown Trout Management, MFP Investors, managed by Michael Price, and Rod Hinze’s Keypoint Capital Management disclosed holding shares of OmniAmerican Bancorp Inc. (NASDAQ:OABC). Each of the funds holds 552,800 shares, and 370,349 shares, respectively.

Disclosure: none