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CCM
Castine Capital Management Portfolio holdings
AUM
$129M
Turnover
51.35%
1-Year Est. Return
23.45%
This Fund
S&P 500
This Quarter
Est. Return
-1.72%
1 Year Est. Return
-23.45%
3 Year Est. Return
-13.92%
5 Year Est. Return
+51.62%
10 Year Est. Return
–
AUM
$366M
AUM Growth
-$20.5M
(-5.3%)
Cap. Flow
-$14.4M
Cap. Flow
% of AUM
-3.93%
Top 10 Holdings %
Top 10 Hldgs %
47.48%
Holding
45
New
7
Increased
20
Reduced
9
Closed
7
Avg Time Held
1.6
years
Top 10 Avg Time Held
0.9
years
Top 20 Avg Time Held
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameris Bancorp
ABCB
|
+$15.9M |
| 2 |
PBCT
People's United Financial Inc
PBCT
|
+$11.3M |
| 3 |
Banc of California
BANC
|
+$4.95M |
| 4 |
STXB
Spirit of Texas Bancshares, Inc. Common Stock
STXB
|
+$3.55M |
| 5 |
PBBI
PB Bancorp, Inc. Common Stock
PBBI
|
+$2.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UBNK
United Financial Bancorp, Inc.
UBNK
|
+$27.2M |
| 2 |
Fidelity Southern Corporation
LION
|
+$18.5M |
| 3 |
DNBF
DNB Financial Corp
DNBF
|
+$9.74M |
| 4 |
First Merchants
FRME
|
+$8.13M |
| 5 |
First United
FUNC
|
+$3.44M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Ameris Bancorp
ABCB
$5.35B
| $22.5M | 6.15% |
558,900
+421,893
| +308% | +$15.9M |
2013 Q2
25 quarters
|
|
2
Northeast Bank
NBN
$1.08B
| $19.5M | 5.34% |
880,535
+745
| +0.1% | +$15.9K |
2019 Q1
2 quarters
|
|
|
TCF
3
DELISTED
TCF Financial Corporation Common Stock
TCF
| $19.1M | 5.23% |
502,323
+12,323
| +3% | +$490K |
2019 Q2
1 quarter
|
|
|
STL
4
DELISTED
Sterling Bancorp
STL
| $17.9M | 4.89% |
891,498
+40,815
| +5% | +$827K |
2017 Q1
10 quarters
|
|
5
Citizens Financial Group
CFG
$26.7B
| $17.7M | 4.84% |
500,000
+23,720
| +5% | +$828K |
2016 Q3
12 quarters
|
|
6
QCR Holdings
QCRH
$1.62B
| $16.5M | 4.51% |
434,044
-4,720
| -1% | -$171K |
2014 Q2
21 quarters
|
|
|
ESXB
7
DELISTED
Community Bankers Trust Corporation
ESXB
| $16.1M | 4.4% |
1,872,022
-191,743
| -9% | -$1.54M |
2015 Q2
17 quarters
|
|
|
IBKC
8
DELISTED
IBERIABANK Corp
IBKC
| $14.9M | 4.09% |
197,791
+19,735
| +11% | +$1.46M |
2018 Q3
4 quarters
|
|
9
Western Alliance Bancorporation
WAL
$8.11B
| $14.8M | 4.03% |
320,109
-24,753
| -7% | -$1.12M |
2016 Q2
13 quarters
|
|
10
Hancock Whitney
HWC
$5.86B
| $14.7M | 4.01% |
383,040
+26,798
| +8% | +$1.02M |
2019 Q1
2 quarters
|
|
|
OPB
11
DELISTED
Opus Bank Common Stock
OPB
| $13.2M | 3.6% |
604,857
-4,364
| -0.7% | -$92.5K |
2019 Q1
2 quarters
|
|
12
Civista Bancshares
CIVB
$558M
| $11.7M | 3.2% |
538,061
+13,244
| +3% | +$283K |
2015 Q4
15 quarters
|
|
13
Zions Bancorporation
ZION
$9.2B
| $11.5M | 3.14% |
257,775
+50,599
| +24% | +$2.19M |
2019 Q1
2 quarters
|
|
|
PBCT
14
DELISTED
People's United Financial Inc
PBCT
| $11.3M | 3.08% |
+720,000
| New | +$11.3M |
2019 Q3
0 quarters
|
|
|
PCSB
15
DELISTED
PCSB Financial Corporation
PCSB
| $11M | 3.02% |
552,653
-824
| -0.1% | -$16.3K |
2018 Q3
4 quarters
|
|
16
DELISTED
Synovus
SNV
| $10.7M | 2.91% |
297,952
+36,608
| +14% | +$1.31M |
2019 Q1
2 quarters
|
|
17
Southern First Bancshares
SFST
$566M
| $9.96M | 2.72% |
249,789
+4,385
| +2% | +$170K |
2014 Q4
19 quarters
|
|
|
CSFL
18
DELISTED
CenterState Bank Corporation Common Stock
CSFL
| $9.7M | 2.65% |
404,374
-603
| -0.1% | -$14.1K |
2018 Q4
3 quarters
|
|
19
DELISTED
The First Bancshares, Inc.
FBMS
| $9.49M | 2.59% |
293,731
+18,412
| +7% | +$585K |
2016 Q4
11 quarters
|
|
20
DELISTED
CAMBRIDGE BANCORP
CATC
| $9.48M | 2.59% |
126,401
-5,147
| -4% | -$397K |
2017 Q4
7 quarters
|
|
|
EBSB
21
DELISTED
Meridian Bancorp, Inc.
EBSB
| $8.93M | 2.44% |
476,153
-709
| -0.1% | -$12.9K |
2019 Q1
2 quarters
|
|
22
Old Second Bancorp
OSBC
$1.26B
| $8.7M | 2.38% |
711,942
+74,844
| +12% | +$927K |
2018 Q1
6 quarters
|
|
23
PNC Financial Services
PNC
$85.7B
| $8.51M | 2.33% |
60,731
+1,495
| +3% | +$203K |
2013 Q2
25 quarters
|
|
24
First Bancorp
FBNC
$2.5B
| $7.01M | 1.92% |
195,190
+3,787
| +2% | +$136K |
2016 Q4
11 quarters
|
|
25
DELISTED
HMN Financial Inc
HMNF
| $6.56M | 1.79% |
286,740
+29,850
| +12% | +$629K |
2018 Q4
3 quarters
|
|
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Castine Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Castine Capital Management held 45 positions worth $366M, down 5.3% from $386M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Castine Capital Management withdrew a net $14.4M in Q3 2019, closing 7 positions and reducing 9 holdings. Its most notable exit was United Financial Bancorp, Inc., an estimated $27.2M 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 People's United Financial Inc worth $11.3M.
- Castine Capital Management's largest Q3 2019 buy was People's United Financial Inc: 720,000 shares worth $11.3M.
- Castine Capital Management added most to Ameris Bancorp in Q3 2019, an estimated $15.9M increase.
- Castine Capital Management's biggest Q3 2019 reduction was Community Bankers Trust Corporation, cutting an estimated $1.54M.
- Castine Capital Management fully exited United Financial Bancorp, Inc. in Q3 2019, selling an estimated $27.2M.
- Castine Capital Management's ten largest holdings make up 47% of its $366M portfolio in Q3 2019.
- Castine Capital Management opened 7 new positions and closed 7 in Q3 2019.
- Castine Capital Management's portfolio value fell 5.3% quarter-over-quarter to $366M.
Based on Castine Capital Management's 13F filing for Q3 2019, filed 13 Nov 2019.