Endeavour Capital increased stakes in Banc of California, Radius Global in Q4'21

Endeavour Capital Advisors Inc. nearly doubled its holdings in Banc of California Inc. to 2.1 million shares, which were worth $42.1 million as of Dec. 31, 2021, according to the firm's latest Form 13-F filing.

The bank completed its acquisition of Pacific Mercantile Bancorp in October 2021. Endeavour held an 8.73% stake in Pacific Mercantile worth $19.2 million as of the end of the third quarter of 2021.

The market value of Endeavour's total common stock investments rose by roughly 2.9% to $712.0 million in the fourth quarter of 2021, according to its latest Form 13-F filing.

The hedge fund continued to reduce its stake in Signature Bank, once its most valuable investment. It steadily cut its holdings in the New York-based bank over the past year, ending 2021 with fewer than 100,000 shares. Similarly, Endeavour decreased its investment in Chicago-based First Midwest Bancorp Inc. by 35.5% quarter over quarter.

Endeavour purchased more shares of Radius Global Infrastructure Inc., which it entered in the third quarter of 2021. By the end of 2021, Endeavour owned 1,005,556 shares of Radius Global, up 174.2% from its position at the end of the third quarter of 2021.

Endeavour exited investments in U.S. Century Bank and Bank of America Corp., among others, in the fourth quarter of 2021. The hedge fund exited a combined $88.3 million worth of positions in 13 companies during the period.

Endeavour entered positions in nine companies during the quarter, with investments worth $69.9 million as of Dec. 31, 2021. Its holdings in BankUnited Inc. and Flywire Corp. — worth $20.4 million and $16.6 million, respectively — were its biggest new investments and among its most valuable overall.