trending Market Intelligence /marketintelligence/en/news-insights/trending/rvswmaupfnx7t9ijdwsr-g2 content esgSubNav
In This List

Maltese boosts FIG exposure in Q1, initiates 39 new positions

Podcast

Street Talk Episode 78: The case to build deposits in a market flush with cash

Podcast

Street Talk Episode 79: More attractive premiums for bank M&A targets coming

Blog

Banking Essentials Newsletter: June Edition, Part - 2

Blog

Insight Weekly: Fed's policy stance; overdrafts under scrutiny; energy stocks rally


Maltese boosts FIG exposure in Q1, initiates 39 new positions

Maltese Capital Management LLC increased its holdings of Comerica Inc. to $39 million in the first quarter of 2018, as the superregional bank maintained its No. 1 financial stock position, according to the firm's most recently filed Form 13-F.

The hedge fund's total financial institution holdings increased to $1.35 billion as of March 31, up from $1.20 billion in the fourth quarter of 2017. The firm's exposure to the financial industry has increased for four straight quarters and is up 56.4% from the first quarter of 2017.

SNL Image

Maltese reported 39 new financial stock positions worth a combined $164.4 million as of March 31. Two of the fund's new positions found a spot in the top-20 holdings — the $30.3 million investment in U.S. Bancorp; and a $14.8 million stake in Raymond James Financial Inc.

The fund also disclosed a $4.6-million investment in Bridgewater Bancshares Inc., which completed an IPO and began trading on the Nasdaq on March 14.

SNL Image

The hedge fund shed 25 financial institution positions worth a combined $102.2 million at the end of 2017. The firm's largest exits of the quarter were in QCR Holdings Inc. and Univest Corp. of Pennsylvania, its 17th- and 18th-largest positions at the close of 2017, respectively.

SNL Image

SNL Image

Did you enjoy this analysis? Click here to set up real-time alerts for data-driven articles on the U.S. financial sector.

Click here for a template that allows users to analyze Maltese Capital Management's common stock holdings as of Mar. 31, 2018.

Click here to view Maltese Capital Management'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.