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CCM
Castine Capital Management Portfolio holdings
AUM
$129M
1-Year Est. Return
23.45%
This Fund
S&P 500
This Quarter
Est. Return
+2.89%
1 Year Est. Return
-23.45%
3 Year Est. Return
-13.92%
5 Year Est. Return
+51.62%
10 Year Est. Return
–
AUM
$222M
AUM Growth
-$20.1M
(-8.3%)
Cap. Flow
-$24.7M
Cap. Flow
% of AUM
-11.1%
Top 10 Holdings %
Top 10 Hldgs %
47.17%
Holding
38
New
4
Increased
7
Reduced
21
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
OPB
Opus Bank Common Stock
OPB
|
+$7.19M |
| 2 |
Byline Bancorp
BY
|
+$4.47M |
| 3 |
Community Bank
CBU
|
+$4.37M |
| 4 |
GNTY
Guaranty Bancshares
GNTY
|
+$2.99M |
| 5 |
Bank of N.T. Butterfield & Son
NTB
|
+$1.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MBVT
Merchants Bancshares Inc
MBVT
|
+$10.6M |
| 2 |
Peoples Bancorp of North Carolina
PEBK
|
+$5.94M |
| 3 |
SGBK
Stonegate Bank
SGBK
|
+$5.65M |
| 4 |
Zions Bancorporation
ZION
|
+$3.87M |
| 5 |
FBNK
First Connecticut Bancorp, Inc
FBNK
|
+$3.16M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ESXB
1
DELISTED
Community Bankers Trust Corporation
ESXB
| $13.9M | 6.26% |
1,687,998
-391,937
| -19% | -$3.14M |
|
2
QCR Holdings
QCRH
$1.65B
| $12.1M | 5.45% |
255,583
-16,970
| -6% | -$764K |
|
3
Ameris Bancorp
ABCB
$5.74B
| $11.9M | 5.35% |
246,699
-15,848
| -6% | -$728K |
|
|
STL
4
DELISTED
Sterling Bancorp
STL
| $11.3M | 5.08% |
485,541
+40,541
| +9% | +$928K |
|
|
5
Bank of N.T. Butterfield & Son
NTB
$2.33B
| $9.93M | 4.47% |
291,305
+31,305
| +12% | +$1.04M |
|
6
First Merchants
FRME
$2.63B
| $9.63M | 4.33% |
240,051
-19,949
| -8% | -$805K |
|
7
KeyCorp
KEY
$23.4B
| $9.53M | 4.28% |
508,284
-41,716
| -8% | -$755K |
|
|
CMA
8
DELISTED
Comerica
CMA
| $9.45M | 4.25% |
129,056
-10,524
| -8% | -$739K |
|
|
VBTX
9
DELISTED
Veritex Holdings
VBTX
| $8.86M | 3.98% |
336,352
-27,745
| -8% | -$744K |
|
|
FBMS
10
DELISTED
The First Bancshares, Inc.
FBMS
| $8.25M | 3.71% |
298,950
+21,302
| +8% | +$598K |
|
|
OPB
11
DELISTED
Opus Bank Common Stock
OPB
| $7.9M | 3.55% |
+326,363
| New | +$7.19M |
|
12
PNC Financial Services
PNC
$96.6B
| $7.61M | 3.42% |
60,958
-5,042
| -8% | -$608K |
|
|
GWB
13
DELISTED
Great Western Bancorp, Inc.
GWB
| $6.78M | 3.05% |
166,070
-13,765
| -8% | -$555K |
|
14
Western Alliance Bancorporation
WAL
$8.57B
| $6.37M | 2.86% |
129,467
+19,467
| +18% | +$926K |
|
15
Southern First Bancshares
SFST
$590M
| $6.26M | 2.82% |
168,952
+12,199
| +8% | +$419K |
|
|
FFWM
16
DELISTED
First Foundation Inc
FFWM
| $6.18M | 2.78% |
375,873
-31,181
| -8% | -$497K |
|
17
First Bancorp
FBNC
$2.65B
| $6.15M | 2.76% |
196,598
-3,402
| -2% | -$101K |
|
18
Equity Bancshares
EQBK
$1.02B
| $5.53M | 2.49% |
180,616
-14,384
| -7% | -$445K |
|
|
ENFC
19
DELISTED
Entegra Financial Corp.
ENFC
| $5.43M | 2.44% |
238,595
+3,595
| +2% | +$85.2K |
|
|
TSC
20
DELISTED
TriState Capital Holdings, Inc.
TSC
| $5.42M | 2.44% |
214,954
-115,046
| -35% | -$2.78M |
|
|
IBTX
21
DELISTED
Independent Bank Group, Inc.
IBTX
| $5.32M | 2.39% |
89,353
-7,414
| -8% | -$442K |
|
|
PVBC
22
DELISTED
Provident Bancorp
PVBC
| $4.89M | 2.2% |
439,448
-5,053
| -1% | -$53.1K |
|
|
FFKT
23
DELISTED
Farmers Capital Bank Corp
FFKT
| $4.85M | 2.18% |
125,767
-38,913
| -24% | -$1.54M |
|
24
Civista Bancshares
CIVB
$571M
| $4.79M | 2.16% |
229,615
-18,378
| -7% | -$386K |
|
|
EVBN
25
DELISTED
Evans Bancorp Inc
EVBN
| $4.75M | 2.14% |
119,023
-24,722
| -17% | -$960K |
|
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Castine Capital Management's Q2 2017 Portfolio in Review
As of Q2 2017, Castine Capital Management held 38 positions worth $222M, down 8.3% from $242M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Castine Capital Management withdrew a net $24.7M in Q2 2017, closing 6 positions and reducing 21 holdings. Its most notable exit was Merchants Bancshares Inc, an estimated $10.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 100% of assets, unchanged from a quarter earlier.
Against the trend, Castine Capital Management opened a new position in Opus Bank Common Stock worth $7.9M.
- Castine Capital Management's largest Q2 2017 buy was Opus Bank Common Stock: 326,363 shares worth $7.9M.
- Castine Capital Management added most to Bank of N.T. Butterfield & Son in Q2 2017, an estimated $1.04M increase.
- Castine Capital Management's biggest Q2 2017 reduction was Community Bankers Trust Corporation, cutting an estimated $3.14M.
- Castine Capital Management fully exited Merchants Bancshares Inc in Q2 2017, selling an estimated $10.6M.
- Castine Capital Management's ten largest holdings make up 47% of its $222M portfolio in Q2 2017.
- Castine Capital Management opened 4 new positions and closed 6 in Q2 2017.
- Castine Capital Management's portfolio value fell 8.3% quarter-over-quarter to $222M.
Based on Castine Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.