|Bid||0.01 x 100|
|Ask||199,999.98 x 100|
|Day's range||371.48 - 381.93|
|52-week range||253.95 - 395.15|
|PE ratio (TTM)||18.55|
|Earnings date||4 May 2017 - 8 May 2017|
|Dividend & yield||1.20 (0.32%)|
|1y target est||N/A|
Raleigh-based First Citizens Bancshares continues to hope its latest offer - $35 in cash per share – will be amenable to KS Bancorp’s board. Tom Hazen, a professor at UNC-Chapel Hill School of Law specializing in securities, says culture can’t be downplayed – even with a fair price tag. “The corporate culture issue is a very real issue, especially with a small community bank,” Hazen says.
Smithfield-based KS Bancorp has, for the second time rejected an unsolicited buyout offer from Raleigh-based First Citizens Bancshares. In a prepared statement Monday, KS CEO Harold Keen said that, while the board does “appreciate” First Citizens’ interest in the bank, it’s resisting the offer. “Although we are appreciative of First Citizens’ interest in our organization, their initial Indication of Interest did not rise to a level of pricing that the Board determined to be more beneficial to the KS Bancorp shareholders than the alternative of remaining independent and pursuing our Board adopted strategies,” he writes, adding that hostile takeovers “are not the norm” in banking.
SMITHFIELD, N.C., July 17, 2017-- The Board of Directors of KS Bancorp, Inc. has received written communications from First Citizens BancShares, Inc. regarding the unsolicited Indications of Interest provided ...