#3 Cascade Bancorp (NASDAQ:CACB)
– Shares Owned by Invesco Private Capital (as of September 30): 11.47 Million
– Value of Holding (as of September 30): $62.0 Million
Though the stock of Cascade Bancorp (NASDAQ:CACB) suffered a major setback in early-January, it has been on a gradual rise ever since and currently trades up by over 15% year-to-date. The bank holding company recently reported its third quarter results, declaring EPS of $0.07 on revenue of $27.23 million. At the end of September, six hedge funds including Invesco Private Capital disclosed having a stake in the company among the more than 700 hedge funds and investment firms covered by Insider Monkey. Additionally, after Invesco Private Capital, Matthew Lindenbaum‘s Basswood Capital was the largest shareholder of Cascade Bancorp (NASDAQ:CACB) among those firms, with ownership of 3.1 million shares as of September 30.
#2 Sun Bancorp, Inc. /NJ (NASDAQ:SNBC)
– Shares Owned by Invesco Private Capital (as of September 30): 4.25 Million
– Value of Holding (as of September 30): $81.67 Million
Moving on, similar to the stock of Cascade Bancorp, the stock of Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) also suffered a massive slump in early-January and has been on a slow but steady rise ever since, as it currently trades with year-to-date gains of nearly 14%. However, unlike Cascade Bancorp, Sun Bancorp, Inc. /NJ (NASDAQ:SNBC) managed to blow analysts’ expectations out of the water when it reported its third quarter earnings recently. While analysts had estimated that the company would report EPS of $0.03 on revenue of $16.32 million, the company declared EPS of $0.17 on revenue of $24.04 million. Five of the hedge funds among those we track reported having a stake in Sun Bancorp, Inc. /NJ as of the end of September. The most bullish among them was Anton Schutz‘s Mendon Capital Advisors, which more than doubled its stake in the company to 123,538 shares during the third quarter.
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#1 Navigator Holdings Ltd (NYSE:NVGS)
– Shares Owned by Invesco Private Capital (as of September 30): 21.86 Million
– Value of Holding (as of September 30): $291.88 Million
Finally, even after suffering a massive drop of nearly 30% during the third quarter, Navigator Holdings Ltd (NYSE:NVGS) managed to retain its spot as Invesco Private Capital’s top equity pick. The decline in the third quarter is also largely responsible for the company trading down by 32.5% year-to-date. While Invesco Private Capital held on to its conviction in the stock even during such a massive slump, it seems other hedge funds were not able to do the same. The number of hedge funds covered by Insider Monkey that reported owning a stake in Navigator Holdings Ltd (NYSE:NVGS) dropped to 11 by the end of September, from 15 at the end of June. On November 10, Navigator Holdings Ltd reported its third quarter earnings, declaring EPS of $0.41 on revenue of $78.20 million versus the Street’s estimate of EPS of $0.45 on revenue of $72.94 million. Ken Griffin‘s Citadel Investment Group reduced its stake in the company by 42,100 shares during the third quarter, to 72,253 shares.
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