While summer always offers lighter trading, sell-offs and nervous investor-vacations, there's no doldrums these days. Just look at NPBC today...
National Penn Bancshares (NPBC) http://www.natpennbank.com/ trading on the Nasdaq in the $5 range on a 3-Month average trading volume of 1,310,750 shares with a market cap of $418 million jumped past a 40% price gain in early trading today (doubling its volume) on news that its November 2008 dividend reinvestment and stock purchase plan (at a 10% price discount) had nearly reached its $75 million goal of December 31, 2009 yesterday; recording approximately $72.8 million raised.
The NPBC Tier 1 Capital plan posted over $52.6 million in the second quarter of 2009. The Company said yesterday in a statement, "We are particularly pleased that we achieved this capital raising goal well ahead of our original schedule."
National Penn operates as the holding company for National Penn Bank, which provides a range of financial services to residents and businesses primarily in eastern and central Pennsylvania. As of April 29, 2009, it operated 124 community banking offices in Pennsylvania, 1 office in Maryland, and 2 offices in Delaware. The company was founded in 1874 and is headquartered in Boyertown, Pennsylvania.
At $5, the stock is well off its 52-week high of $20 set 09-19-08 and is below both its 50-day and 200 day moving average on trailing twelve month revenues of $322 million. It shares out versus ratio is near-parity.
A FIVE DAY NPBC CHART
Jumping past 36! % in ear ly trading today and staging a big rebound, American Capital (ACAS) http://www.americancapital.com/ trading on the Nasdaq in the $3 range on an average 3-Month trading volume of 6,836,780 shares with a market cap of $717 million announced a $1.07 quarterly dividend on June 11 and once word got around, well, the buyers have poured in.
ACAS is a principal investment firm specializing in management and employee private equity buyouts, acquisitions, recapitalizations, mergers and acquisition, add-on acquisitions, securitizations, special situations, growth capital investments in middle market companies, early stage in mature private and public companies, corporate divestitures, acquisitions of portfolio companies of private equity firms, acquisitions of family-owned or closely held businesses, change of control, or the exit of minority shareholders, going private transactions, and ownership transitions.
At $3, ACAS is far, far off its 52-week high of $28.49 set 09-23-08 and is right at its 50-day and 200-day moving average on trailing twelve month revenues of $940 million. It shares out versus ratio are at parity.
A FIVE DAY�ACAS CHART
Usually off the radar, there are two other financial concerns posting good news today:
Just slightly beyond being a Small Cap, Jefferies Group (JEF) http://www.jefco.com/ trading on the NYSE in the $20 range on a 3-Month average trading volume of 2,736,470 today announced that it has been designated as a Primary Dealer ! by the F ederal Reserve Bank of New York (FRBNY), effective June 18, 2009.
As a Primary Dealer, Jefferies will be a counter-party to the FRBNY in its open market operations, will participate directly in Treasury auctions, and will provide market information and analysis to the trading desks at the FRBNY.
"We are very pleased to announce that Jefferies has been named as a Primary Dealer by the Federal Reserve Bank of New York and see this designation as a natural extension of and complement to our existing businesses," said Richard B. Handler, Chairman and CEO of Jefferies.
JEF is an independent, full-service global securities and investment banking firm, and has served companies and their investors for more than 45 years. At $20 is below its 52-week high of $28 set on 09-19-08 and at its 50-day moving average ($5 above its 200-day moving average). Its shares out versus float is near-parity and 75% of JEF shares are reportedly owned by institutions. Its trailing twelve month revenues are three times its market cap.
And Danvers Bancorp Inc., (DNBK) http://www.danversbank.com/ trading in the $13 range on the Nasdaq with a 3-Month average trading volume of 100,275 shares on a market cap of $228 million has agreed to acquire Beverly National Corp. for about $62 million, or $23.04 per share, in an all-stock transaction.
Danvers CEO Kevin Bottomley said Wednesday the deal will boost earning prospects and make the company the sixth-largest publicly traded bank based in Massachusetts, with assets worth $2.2 billion and deposits of $1.6 billion. The two banks combined have 25 branch offices.
At $ 13, DNBK is slightly below its 52-week high of $15.27 set on 05-08-09 and is at its 200-day moving average. DNBK has trailing twelve month revenues of $51 million and its shares out versus float is at parity.
Finally, Savient Pharmaceuticals (SVNT) http://www.savientpharma.com/ (an S&P 600 SmallCap Index company) trading today in the $12 range on the Nasdaq with an average 3-Month trading volume of 2,500,840 shares on a market cap of $766 million is stabilizing after its huge spike in volume and price yesterday. Savient rose $3.34, or 36%, to $12.61, yesterday after saying an arthritis advisory committee to the Food and Drug Administration recommended its Krystexxa drug for treatment of refractory chronic gout.
Shares were trading at $12.27 at 11:00 a.m. EST toady. SVNT is known in the Pharma sector for its branded and generic versions of oxandrolone, a drug used to promote weight gain following involuntary weight loss. At $12, SVNT is off its 52-week high of $28.42 set on 07-16-08 and is well above both its 50-day and 200-day moving average.
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