Consumer Automotive (OTC:CAFI) Stock, Quote.Headers.trade-ideas

Camco Financial Corporation

NASDAQ

Consumer Automotive Finance Inc is an indirect automotive financial services company that focuses on servicing the sub-prime market. It has developed a criteria-based system, which has been effective in evaluating deal structure as well as a consumer's ability to pay for an automobile loan. The company provides financing solutions for buying Cars and Trucks and also provides a wide range of credit profiles through dealers in Nevada and soon Arizona and Utah, as well as online through the Dealer Loan programs.

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Stocks That Set New 52-Week Highs Thursday

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HomeTrust Bancshares &amp; Jefferson Bancshares Deal: Another &#39;Trade Of The Decade&#39;

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AMZN

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Benzinga&#39;s M&amp;A Chatter for Thursday October 10, 2013

CONSUMER AUTOMOT FIN INC by Consumer Automotive Finance, Inc.

Consumer Automotive Finance Inc

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Lately, small regional and community bank stocks have been written on as the 'Trade of the Decade. '

	In the aftermath of the real estate and credit crisis, bank stocks collapsed in value and many of the smaller ones were valued at a fraction of their tangible book value. As regulators rushed to close the barn door (after the horse got out), the costs have jumped dramatically and it is difficult of these banks to deal with the costs of challenges of staying in compliance with alphabet soup of regulations.

	In addition, it is virtually impossible for small banks to grow earnings in an over-banked world with anemic economic activity. The only way to grow is to buy another bank. This also helps spread compliance costs out over a large base of assets and deposits.

	See also: <a href="http://www.benzinga.com/general/education/14/01/4232560/how-to-unlock-the-secret-of-superstar-investing">How To Unlock The Secret Of Superstar Investing</a>

	The stage is set for a huge merger and consolidation wave in the regional and community banks. It costs too much to go it alone and it is almost impossible to grow profits at a rate that will appease shareholders. Activist investors have noticed the deep under valuations in the sector and have entered the banking sector in unprecedented numbers.

	The stocks are cheap and economic and regulatory climate is almost forcing many of these banks to put themselves up for sale. In a recent survey, 64 percent of small bank CEOs said they expect to be involved in M&amp;A activity in 2014.

	Given these conditions, it was no surprise Thursday to see that Jefferson Bancshares (NASDAQ: <a class="ticker" href="/stock/jfbi#NASDAQ">JFBI</a>) is being acquired by HomeTrust Bancshares (NASDAQ: <a class="ticker" href="/stock/htbi#NASDAQ">HTBI</a>). HomeTrust is based in Western North Carolina and this allows them to expand into Tennessee at a bargain price and add more than $500 million in assets to their portfolio.

	Jefferson Bancshares is typical of the type of bank that should have been bought as part of the trade of the decade portfolio. The bank has 10 branches and two limited service locations with more than $500 million in assets. The service area is primary market areas to consist of Hamblen County, Knoxville, Johnson City and Kingsport, Tennessee, and the Virginia tri-cites region. Officers and directors owned a little over 12 percent of the bank's shares and the ESOP owned an additional 9.5 percent.

	The bank had struggled a little with its loan portfolio during the crisis and nonperforming assets peaked out at almost five percent of total assets in 2012. Management has worked steadily to improve the quality of the loan portfolio and current nonperforming assets are down to just 3.05 percent.

	Initial consideration for the stock came when NPAs were about 3.81 percent of total assets but had been declining steadily. Equity was continually over the 10 percent of assets level that would've been preferred, so the bank was considered more than adequately capitalized. This was a basic little bank with management dealing with its problems successfully and the stock was trading at just 70 percent tangible book value.

	This in and of itself was enough to consider buying shares of Jefferson. However as a bonus long time bank stock activist Joseph Stilwell had purchased more than six percent of the stock and had filed a 13D, disclosing, “We intend to seek board representation at next year's annual shareholder meeting if the Issuer has not announced its sale. Our purpose in acquiring shares of Common Stock of the Issuer is to profit from the appreciation in the market price of the shares of Common Stock through asserting shareholder rights. We do not believe the value of the Issuer's assets is adequately reflected in the current market price of the Issuer's Common Stock. We hope to work with management and the board of directors to maximize shareholder value.” Luckily, there was a good bank and a great price and an activist investor to act as a catalyst for change.

	See also: <a href="http://www.benzinga.com/news/13/10/3982996/huntington-banks-acquisition-of-camco-financial-start-of-something-big-hban-cafi">Huntington Bank's Acquisition of Camco Financial The Start Of Something Big?</a>

	This made buying the stock the equivalent of an uncontested layup in my eyes and I started buying back in June around $5.50 a share. The takeover will give me a total gain of about 45 percent when the deal closes.

	That's the second notable small bank takeover in the past six months. Huntington Bancshares (NASDAQ: <a class="ticker" href="/stock/hban#NASDAQ">HBAN</a>) made a deal to buy Cameco Financial (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) and netted a 72 percent gain. There are another hundred or so small banks that could fall within these buying parameters if there's a decent pullback in the overall market or the financial sector.

	The 'Trade of the Decade' in small banks is going to make astute investors an enormous amount of money over the next decade.

HomeTrust Bancshares & Jefferson Bancshares Deal: Another 'Trade Of The Decade'

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Thursday October 10, 2013:

Funds Advised by Apax Partners Complete Acquisition of rue21 for $42/Share

The Deal: rue21 (NASDAQ: <a class="ticker" href="/stock/rue#NASDAQ">RUE</a>) and Apax Partners announced Thursday the completion of the acquisition of rue21 by funds advised by Apax Partners for $42.00 per share in cash.

The deal was approved at a special meeting of stockholders held on September 19, 2013. Rue21 stock will cease trading on the NASDAQ Stock Market effective Thursday.

rue21 closed at $41.99 Thursday, a gain of 1.82%.

Amazon.com to Acquire TenMarks

The Deal: Amazon.com (NASDAQ: <a class="ticker" href="/stock/amzn#NASDAQ">AMZN</a>) announced Thursday that it has reached an agreement to acquire TenMarks, which provides students with math instruction. Terms of the acquisition were not disclosed. The deal is expected to close in Q4 2013.

Amazon closed at $305.17 Thursday, a gain of more than 2%.

Nuance to Acquire Varolii

The Deal: Nuance Communications (NASDAQ: <a class="ticker" href="/stock/nuan#NASDAQ">NUAN</a>) announced Thursday that it has agreed to acquire cloud-based outbound customer engagement solutions procvider Varolii. The deal is expected to close next week. Terms were not disclosed.

Nuance Communications closed at $18.27 Thursday, a gain of $0.12.

Huntington Bancshares Acquires Camco Financial for $6.00/Share in Cash

The Deal: Huntington Bancshares (NASDAQ: <a class="ticker" href="/stock/hban#NASDAQ">HBAN</a>) and Camco Financial Corporation (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) announced Thursday an agreement under which Huntington will acquire Camco Financial in a cash and stock transaction valued at aproximately $97 million. 

Under the terms of the agreement, Camco shareholders may elect to receive 0.7264 shares of Huntington common stock, or $6.00 in cash, for each share of Camco Financial common stock they own. The deal is expected to be close in H1 2014.

Camco Financial closed at $5.94 Thursday, a gain of 50%.

Benzinga's M&A Chatter for Thursday October 10, 2013

Thursday was a good morning for those who recently went in on Camco Financial (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>). Huntington Bank (NASDAQ: <a class="ticker" href="/stock/hban#NASDAQ">HBAN</a>) announced its acquisition of Camco for a value at approximately $97 million, including outstanding options and warrants.

	<a href="http://www2.marketfy.com/l/15492/2013-10-10/5j7rk">Tim Melvin</a> is one of those who bought in just last week. It was a stroke of luck for him.

	"It could have been any one of the 25 or 30 (banks)," Melvin said over the phone. '"It was an accident."

	Melvin said Camco had been on the radar for a while, its stock trading a pretty good discount to its tangible book value. His firm saw the Ohio-based bank assets dropping steadily over the last quarter and they eventually added it to their portfolio.

	"This is the first of many," he said about the transaction. Melvin expects to see two dozen of the smaller banking firms shutting down or consolidating over the next few years. "It's a difficult time for the small-town banker."

	Camco operated 22 banking offices throughout eastern and southern Ohio. It had over $750 million in total assets, but was able to sell it off very cheaply. Melvin said the smaller banks are being squeezed down by, among others, low interest margins and higher regulatory costs.

	"We see the same story 30 times over," he continued, "small, cheap banks, have steady credit approval, pressure form the outside to fix or sell the bank."

	Melvin saw activists and investors taking positions in the stock and when they finally got around to call reports, he and his firm pulled the string. <a href="http://online.wsj.com/article/BT-CO-20131010-705332.html">Camco shareholders may elect to receive</a> 0.7264 shares of Huntington stock or $6 a share in cash. He will wait on taking new shares of Huntington, which could change when he sees the new proxy.

	"There is no room for organic growth," he said. Melvin sees no organic growth overall in the banking industry - Camco couldn't move anywhere because there is no business. The former stockbroker believes it makes sense for the smaller banks (25 branches or less) to sell. It's cheaper for the big banks to buy those small ones instead of opening up new branches.

	"CAFI is just part of an ongoing story. Most will end up with the same fate."

	Over the last 15 years, the number of banks has gone down, while the number of branches has gone up. Melvin said the only way to grow is to buy a competitor.

	Melvin said by being the first of expected transactions over the next few years, the takeovers can now start to snowball. "There was no set of rules to play," he said, questioning what type of qualified mortgages and capital requirements would need to be in place for such a buy.

	"Regulatory costs are going to be a lot higher for these banks," he added. The small banks are subject to the same rules of J.P. Morgan Chase (NYSE: <a class="ticker" href="/stock/jpm#NYSE">JPM</a>) and Citi (NYSE: <a class="ticker" href="/stock/c#NYSE">C</a>). The difference? The big banks have such a higher number of employees and customers.

	Melvin says the current government shutdown does not come into play with these takeover. But as it continues on, Melvin rests easy with Huntington.

	"I'll keep buying stocks at 80 percent book value while it works."
Learn more about Tim Melvin's trading strategies <a href="http://marketfy.com/">here</a>.

Interview

Huntington Bank's Acquisition Of Camco Financial The Start Of Something Big? (HBAN, CAFI)

iGATE (NASDAQ: <a class="ticker" href="/stock/igte#NASDAQ">IGTE</a>) shares gained 7.04% to touch a new 52-week high of $29.53 after the company reported upbeat Q3 results.

Camco Financial (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) shares reached a new 52-week high of $5.84 after the company agreed to be acquired by Huntington Bancshares (NASDAQ: <a class="ticker" href="/stock/hban#NASDAQ">HBAN</a>) for $6.00 in cash.

Yongye International (NASDAQ: <a class="ticker" href="/stock/yong#NASDAQ">YONG</a>) shares rose 0.95% to touch a new 52-week high of $6.38. Yongye's trailing-twelve-month operating margin is 29.68%.

Elecsys (NASDAQ: <a class="ticker" href="/stock/esys#NASDAQ">ESYS</a>) shares gained 4.77% to create a new 52-week high of $9.50. Elecsys shares have jumped 179.08% over the past 52 weeks, while the S&amp;P 500 index has gained 15.60% in the same period.

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Stocks Hitting 52-Week Highs

Camco Financial (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) jumped 47.09% to $5.8101 after the company agreed to be acquired by Huntington Bancshares (NASDAQ: <a class="ticker" href="/stock/hban#NASDAQ">HBAN</a>) for $6.00 in cash.

Echo Therapeutics (NASDAQ: <a class="ticker" href="/stock/ecte#NASDAQ">ECTE</a>) shares jumped 20.22% to $3.21. Echo Therapeutics shares have dropped 83.31% over the past 52 weeks, while the S&amp;P 500 index has gained 15.60% in the same period.

Acura Pharmaceuticals (NASDAQ: <a class="ticker" href="/stock/acur#NASDAQ">ACUR</a>) rose 20.13% to $2.0302 on patent settlement.

Vonage Holdings (NYSE: <a class="ticker" href="/stock/vg#NYSE">VG</a>) moved up 20% to $3.66 after the company announced its plans to buy Vocalocity for $130 million.

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Morning Market Movers 

Shares of Camco Financial to Resume Trade at 8:30AM EDT

Huntington Bancshares Announces to Buy Camco Financial, Holders Can Elect to Receive $6/Share in Cash or 0.7264 HBAN Shares

Camco Financial Halted News Pending

Camco Financial Corporation (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) reports Q2 EPS of $0.42.

Earnings

Camco Financial Corporation Reports Q2 EPS of $0.42

Camco Financial Corporation (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) reports Q1 EPS of $0.03.

Camco Financial Corporation Reports Q1 EPS of $0.03

Camco Financial
Corporation (Nasdaq: <a class="ticker" href="/stock/cafi#Nasdaq">CAFI</a>) announced today a rights offering of common shares
of up to $10.0 million to existing shareholders.

Under the terms of the rights offering, all record holders of the Company's
common stock as of July 29, 2012 will receive, at no charge, one subscription
right for each share of common stock held as of the record date. Each
subscription right will entitle the holder of the right to purchase one share
of Company common stock at a subscription price of $1.75 per share. In
addition, for every two shares purchased in the offering, investors will
receive one warrant to purchase Company common stock within five years at
$2.10 per share. Rights holders will have the opportunity to purchase shares
in excess of their basic subscription rights, subject to availability and
certain limitations.

The rights offering will expire on October 31, 2012, unless extended by the
Board of Directors. To the extent any shares remain unsold at the expiration
of the rights offering, the Company may elect to conduct a public offering to
sell these shares.

Offerings

Camco Financial Corporation Announce Rights Offering of up to $10M to Existing Shareholders

On July 17, 2012, Camco Financial Corporation (Nasdaq: <a class="ticker" href="/stock/cafi#Nasdaq">CAFI</a>) announced that it intends to conduct a rights offering of common shares of up to $10.0 million to existing shareholders.

The Company has moved the record date for the rights offering. Under the terms of the rights offering, all record holders of the Company's common stock as of July 29, 2012 will receive, at no charge, one subscription right for each share of common stock held as of the record date. Each subscription right will entitle the holder of the right to purchase one share of Company common stock. In addition, for every two shares purchased in the offering, investors will receive one warrant to purchase Company common stock within five years at a pre-determined price. Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability. The Company may also offer any shares not subscribed for in the rights offering through a subsequent public offering. Final terms will be announced and the rights offering will commence as soon as practicable after the filing with and review by the SEC of the registration statement relating to the offering.

Camco Financial Corporation Updates Rights Offering Information  

Camco Financial Corporation (Nasdaq: <a class="ticker" href="/stock/cafi#Nasdaq">CAFI</a>) announced today that it intends to conduct a rights offering of common shares of up to $10.0 million to existing shareholders.

Under the terms of the rights offering, all record holders of the Company's common stock as of July 17, 2012 for the rights offering will receive, at no charge, one subscription right for each share of common stock held as of the record date. Each subscription right will entitle the holder of the right to purchase one share of Company common stock. In addition, for every two shares purchased in the offering, investors will receive one warrant to purchase Company common stock within five years at a pre-determined price. Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability. The Company may also offer any shares not subscribed for in the rights offering through a subsequent public offering. Final terms will be announced and the rights offering will commence as soon as practicable after the filing with and review by the SEC of the registration statement relating to the offering.

Camco Financial Corporation Announces Rights Offering up to $10M

Camco Financial Corporation (Nasdaq: <a class="ticker" href="/stock/cafi#Nasdaq">CAFI</a>) announced today that it intends to conduct a rights offering of common shares of up to $10.0 million to existing shareholders.

Under the terms of the rights offering, all record holders of the Company's common stock as of July 17, 2012 for the rights offering will receive, at no charge, one subscription right for each share of common stock held as of the record date. Each subscription right will entitle the holder of the right to purchase one share of Company common stock. In addition, for every two shares purchased in the offering, investors will receive one warrant to purchase Company common stock within five years at a pre-determined price. Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability. The Company may also offer any shares not subscribed for in the rights offering through a subsequent public offering. Final terms will be announced and the rights offering will commence as soon as practicable after the filing with and review by the SEC of the registration statement relating to the offering.

Financing

Camco Financial Corporation Announces $10M Rights Offering 

After-Hours Center

PREVIEW: Camco Financial to Resume Trading at 5:25pm

Events

Camco Will Restate June 30 Quarter EPS from $0.02/Share to ($0.20)/Share

Hauppauge Digital Inc (NASDAQ: <a class="ticker" href="/stock/haup#NASDAQ">HAUP</a>) jumped 51.48% to $3.59 at 10:05 am. HAUP announced that it has launched Colossus high definition H.264 video recorder for PCs.
Lexicon Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="/stock/lxrx#NASDAQ">LXRX</a>) shares surged 29.14% to $1.95. LXRX reported positive results from clinical trial of LX4211 in Type 2 diabetes patients.
ADVENTRX Pharmaceuticals Inc (AMEX: <a class="ticker" href="/stock/anx#AMEX">ANX</a>) climbed 21.01% to $3.23. ANX reported that US Food and Drug Administration (FDA) accepted for filing the New Drug Application (NDA) for Exelbine. 
Camco Financial Corporation (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) shares advanced 14.55% to $1.89. CAFI's trailing-twelve-month operating margin is 615.21%.
Read more <a href="http://www.benzinga.com/markets">from Benzinga's Markets.</a>

HAUP

LXRX

Morning Market Movers (HAUP, LXRX, ANX, CAFI)

Icagen Inc (NASDAQ: <a class="ticker" href="/stock/icgn#NASDAQ">ICGN</a>) shares advanced 45.90% to $1.78 at 10:05 am. ICGN selected a compound for development in Nav1.7 program.
Baldor Electric Company (NYSE: <a class="ticker" href="/stock/bez#NYSE">BEZ</a>) jumped 40.17% to $63.23. ABB Ltd (NYSE: <a class="ticker" href="/stock/abb#NYSE">ABB</a>) has announced its plans to purchase BEZ for $3.1 billion, or $63.50 per share, representing a 41% premium to closing price of BEZ on Monday.
OptimumBank Holdings Inc (NASDAQ: OPHCD) climbed 30.73% to $6.39. OPHCD's trailing-twelve-month operating margin is 159.88%.
Camco Financial Corporation (NASDAQ: <a class="ticker" href="/stock/cafi#NASDAQ">CAFI</a>) shares surged 13.60% to $1.42. CAFI's earnings are likely to surge by 27.27% this year.
Read more <a href="http://www.benzinga.com/markets">from Benzinga's Markets.</a>

ICGN

Morning Market Movers (ICGN, BEZ, OPHCD, CAFI)

Consumer Automotive Finance, Inc. Announces New State-of-the-Art Corporate Headquarters, Accelerating Expansion into Sports and Nutrition Industry

Consumer Automotive Finance, Inc. Announces the Launch of its New Line of Sports Nutrition Products under its 51 Brand

Consumer Automotive Finance, Inc. Announces the Expansion of its Corporate Office to 11,000 Sq Ft to Accommodate Growth from its Subsidiaries

Consumer Automotive Finance, Inc. Announces Cancellation of 70,000,000 Common Shares

Consumer Automotive Finance cancels 70M common shares

Revolutionizing Wellness: Consumer Automotive Finance, Inc. Unveils Groundbreaking Mushroom Immune Booster and More in Exciting Supplement Expansion

Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates

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Consumer Automotive

Consumer Automotive (CAFI) Forecast

Consumer Automotive (OTC:CAFI) Stock, Quote.Headers.trade-ideas