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M3F adds 4 new positions, makes SI Financial its largest position in Q3

M3F Inc., a Salt Lake City-based hedge fund manager, added four new banking positions during the third quarter, according to the firm's most recent Form 13F filing.

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M3F's largest new stake, a $4.0 million position in Hilltop Holdings Inc., became its 10th-largest position overall at the end of September. M3F also revealed a new $3.4 million investment in Bank OZK, a $2.6 million investment in First of Long Island Corp. and a $579,000 investment in Riverview Financial Corp.

The hedge fund manager also boosted its position in SI Financial Group Inc. by 58.5% in the third quarter, making the Willimantic, Conn.-based thrift its single largest investment at $7.7 million. According to a recent S&P Global Market Intelligence analysis, SI Financial is trading at one of the lowest price-to-adjusted book value multiples in the industry.

M3F fully exited one position during the third quarter, a $6.0 million stake in Wells Fargo & Co.

Founded in 2009, M3F focuses on common stock investments in the financial services industry. The principals are Jason Stock and William Waller.

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Click here for a template that allows users to analyze M3F Inc.'s common stock holdings as of Sept. 30, 2018.

Click here to view M3F Inc.'s current common stock holdings.

Company filings including the 13F can be found through the filings archive tab on a company's briefing book page.