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Bank Activist Seidman Zeroes In on Two New Targets

The manager, who specializes in small- and microcap financial institutions, has acquired stakes in Westbury Bancorp and Cheviot Financial Corp.

Activist investor Lawrence Seidman, who specializes in banks, has disclosed his second activist play in less than six weeks. On Monday the founder of Parsippany, New Jersey–based Seidman & Associates disclosed that he owns 5.94 percent of West Bend, Wisconsin–based Westbury Bancorp. The disclosure comes a little more than a month

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