PSA added 2 7/8, moving to 33...

PSA added 2 7/8, moving to 33 5/8 in continued reaction to last week’s Barron’s magazine article, which cited an analyst who believes the private market value of the company has risen to $50 a share, according to Irving Katz, director of research for San Diego Securities.

The article also mentioned that Twedy Browne & Co., a specialist in asset valuation investments, has filed a 13D on the company. That means the company has reported to the Securities & Exchange Commission that it has a “significant” number of shares--probably more than 5% of outstanding shares--in PSA, Katz said.

Great American First Savings Bank recovered 1/2 point to 25 1/8 as the thrift received Federal Home Loan Bank Board approval to purchase Home Federal Savings & Loan of Tucson. FHLBB approval, however, hinged upon Great American acquiring Hacienda Federal Savings & Loan of Oxnard and First Federal Savings & Loan Assn. of Redding, each of which had been under conservatorships imposed by the Federal Savings & Loan Insurance Corp.

Great American shareholders will vote on the acquisition of Los Angeles Federal Savings Bank during its annual meeting Wednesday.

Sun Savings stock rose even after the Federal Home Loan Bank Board on Friday ordered the troubled thrift to establish added loan-loss reserves.

Oak Industries, which plans to sell its materials division to the Henley Group, a spinoff of Allied-Signal, was up to 2. Shareholders are expected to approve the sale during an April 4 meeting in Rancho Bernardo.

Continued reaction to an unfavorable quarterly earnings report pushed Cohu down 5/8 to 8 1/8--marking a new 1986 low, Katz observed.

Cubic was up 2 as shareholders continued to show expectations of strength for this depressed issue.

Beeba’s Creations, hurt by profit taking, was down 2 to 19. The stock has been selling at 22 times last year’s earnings, Katz said.

Investors searching for depressed high technology stocks which could participate in the market’s next upward move pushed Cipher Data up 1 3/4 to 18 7/8.

Energy Factors was up 1 to 20 in continued reaction to last week’s announcement that it would acquire a Northern California energy company.

First National Bank was up 3/8 to 7 3/4. Investors evidently believe that the bank’s insurance will cover any financial burdens generated by J. David & Co. lawsuits.