Second Curve Capital Reveals Moves Into Regional Management Corp (RM), Seacoast Banking Corporation of Florida (SBCF) & Others

Second Curve Capital, a fund managed by Tom Brown, has recently disclosed several moves into its equity portfolio holdings. In the first filing, Second Curve reported raising its stake in Regional Management Corp (NYSE:RM) to 962,968 shares, from 677,918 shares owned earlier in October 2013, which translates to an increase to 7.4% of the common stock, from 5.4%.

In another filing, Second Curve revealed holding around 1.64 million shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF), equal to 6.3% of the common stock. In its latest 13F, the fund disclosed holding 8.95 million shares of the company. In this way, Second Curve ceased to hold the largest position in the company out of the funds we track, being outrun by Basswood Capital, led by Matthew Lindenbaum, which in its latest 13F reported ownership of 3.53 million shares.

Second Curve has also slightly upped its position in Tree.com Inc (NASDAQ:TREE). The fund currently owns 927,312 shares of the company, the stake amassing 8.3% of the common stock. This is up from 850,292 shares held earlier. The analysts have an average target price for the stock at around $37 per share, slightly above the current price.

The next on the list is The First Marblehead Corporation (NYSE:FMD), in which Second Curve revealed holding 9.9% of the common stock. The holding has been significantly reduced from 7.38 million shares revealed by Tom Brown’s fund in the previous round of 13F filings. The stock of The First Marblehead Corporation (NYSE:FMD) gained whooping over 500% during the past year, a significant surge being experienced at the beginning of December.

In the fifth filing, Second Curve reported owning 2.78 million shares of Bancorp Inc (NASDAQ:TBBK), slightly down from 2.83 million held previously. The stake currently amasses 7.3% of the company’s common stock. Even following the decrease Second Curve remains an important investor with a significant stake in the company. Out of the funds we track, Michael Price’s Mfp Investors reported earlier holding 324,900 shares of the company.

Disclosure: none

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