BASSWOOD CAPITAL MANAGEMENT, L.L.C. recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Basswood Capital Management, L.L.C. is an investment management firm based out of New York City, New York. The company was originally established in 1998 and has grown from its inception to now operate with 15 total employees, of which 9 are investment professionals, and is owned by its employees. Basswood Capital Management conducts its research internally, utilizing a fundamental methodology to make its investment decisions. The company invests in the value stocks of companies and event driven strategies, focusing on the public equity and fixed income markets on a global scale. Basswood Capital Management invests most heavily in the finance sector, which alone makes up over three quarters of the firm’s total asset allocations, and also invests in the industrials and consumer discretionary sectors, among other sectors such as information technology and transports to a lesser degree, in order of decreasing allocation. The company holds its allocations for just under 12 quarters on average and holds its top 10 allocations, which make up a quarter of the firm’s total holdings, for 12.6 quarters on average. Basswood Capital Management manages over $2.2 billion in total assets under management spread across 17 total accounts, all of which are discretionary accounts. Both of Basswood Capital Management’s total number of accounts and total assets under management have been increasing in recent years with its total assets under management increasing from $350 million back in 2011 to well over 6 times that amount today. The company mainly caters to pooled investment vehicles, which alone makes up over 90% of its client base and over three quarters of its total attributed assets, and also provides services to investment companies, which makes up the rest of its clientele. Basswood Capital Management takes advisory fees in the form of a percentage of assets and various performance based fees.
As of the latest 13F report, the guru’s equity portfolio contained 117 stocks valued at a total of $1.35Bil. The top holdings were DCOM(5.28%), JPM(4.65%), and WBS(3.94%).
According to GuruFocus data, these were BASSWOOD CAPITAL MANAGEMENT, L.L.C.’s top five trades of the quarter.
Dime Community Bancshares Inc
BASSWOOD CAPITAL MANAGEMENT, L.L.C. reduced their investment in NAS:DCOM by 1,489,134 shares. The trade had a 3.43% impact on the equity portfolio. During the quarter, the stock traded for an average price of $31.18.
On 02/18/2023, Dime Community Bancshares Inc traded for a price of $31.06 per share and a market cap of $1.20Bil. The stock has returned -8.64% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Dime Community Bancshares Inc has a price-earnings ratio of 8.33, a price-book ratio of 1.13, a price-earnings-to-growth (PEG) ratio of 0.57 and a price-sales ratio of 2.88.
The price-to-GF Value ratio is 0.83, earning the stock a GF Value rank of 7.
Webster Financial Corp
BASSWOOD CAPITAL MANAGEMENT, L.L.C. reduced their investment in NYSE:WBS by 412,792 shares. The trade had a 1.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $50.08.
On 02/18/2023, Webster Financial Corp traded for a price of $54.97 per share and a market cap of $9.57Bil. The stock has returned -6.00% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Webster Financial Corp has a price-earnings ratio of 15.48, a price-book ratio of 1.23, a price-earnings-to-growth (PEG) ratio of 2.21 and a price-sales ratio of 3.73.
The price-to-GF Value ratio is 1.01, earning the stock a GF Value rank of 5.
First American Financial Corp
The guru established a new position worth 312,958 shares in NYSE:FAF, giving the stock a 1.21% weight in the equity portfolio. Shares traded for an average price of $50.67 during the quarter.
On 02/18/2023, First American Financial Corp traded for a price of $60.02 per share and a market cap of $6.19Bil. The stock has returned -8.48% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, First American Financial Corp has a price-earnings ratio of 24.70, a price-book ratio of 1.33, a price-earnings-to-growth (PEG) ratio of 0.99, a EV-to-Ebitda ratio of 12.19 and a price-sales ratio of 0.84.
The price-to-GF Value ratio is 0.91, earning the stock a GF Value rank of 7.
New York Community Bancorp Inc
The guru established a new position worth 1,475,870 shares in NYSE:NYCB, giving the stock a 0.9399999999999999% weight in the equity portfolio. Shares traded for an average price of $8.92 during the quarter.
On 02/18/2023, New York Community Bancorp Inc traded for a price of $9.390000000000001 per share and a market cap of $6.40Bil. The stock has returned -13.19% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, New York Community Bancorp Inc has a price-earnings ratio of 7.51, a price-book ratio of 0.77, a price-earnings-to-growth (PEG) ratio of 3.41 and a price-sales ratio of 3.06.
The price-to-GF Value ratio is 0.58, earning the stock a GF Value rank of 8.
The Bancorp Inc
BASSWOOD CAPITAL MANAGEMENT, L.L.C. reduced their investment in NAS:TBBK by 509,253 shares. The trade had a 0.82% impact on the equity portfolio. During the quarter, the stock traded for an average price of $27.65.
On 02/18/2023, The Bancorp Inc traded for a price of $37.16 per share and a market cap of $2.07Bil. The stock has returned 29.61% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, The Bancorp Inc has a price-earnings ratio of 16.30, a price-book ratio of 2.98, a price-earnings-to-growth (PEG) ratio of 0.95 and a price-sales ratio of 6.02.
The price-to-GF Value ratio is 1.55, earning the stock a GF Value rank of 1.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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