Should You Follow This Financial-Focused Fund Into Its Bets on Zions Bancorporation (ZION), Meridian Bancorp, Inc. (EBSB) & Two Other Stocks?

In Citizens Financial Group Inc (NYSE:CFG), EJF Capital had cut its stake by 25% on the quarter and held 1.50 million shares worth $29.97 million at the end of June. In the following three months, the fund saw the stock gain 24.3%. Heading into the third quarter of 2016, a total of 52 of the hedge funds tracked by Insider Monkey were long this stock, with the largest shareholder being AQR Capital Management, which reported holding $132.6 million worth of Citizens Financial Group Inc (NYSE:CFG)’s shares as of the end of June. It was followed by Lakewood Capital Management with a $130.4 million position. Other investors bullish on the company included Citadel Investment Group, Carlson Capital, and Kingstown Capital Management.

Finally, Meridian Bancorp, Inc. (NASDAQ:EBSB)‘s shares appreciated by 5.6% during the third quarter. At the end of June, EJF Capital held 2.0 million shares worth $29.56 million, being the largest shareholder among 14 funds from our database that were bullish on Meridian Bancorp, Inc. (NASDAQ:EBSB), up by 27% over the quarter. EJF was followed by Adage Capital Management with a $28.8 million position. Other investors bullish on the company included Renaissance Technologies, Hutchin Hill Capital, and Royce & Associates.

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