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David Goodloe
David Goodloe
Articles (769) 

MFP Investors Buys 7 New Holdings

Bank holding companies, financial services company top purchases

Michael Price (Trades, Portfolio), who runs hedge fund MFP Investors LLC, invested in seven new holdings in the third quarter. Price’s estimated net worth is $1.2 billion; MFP Investors has $1.6 billion under management, much of it Price’s money.

His largest purchase was 521,500 shares of Regions Financial Corp. (NYSE:RF), a financial services company based in Birmingham, Alabama, for an average price of $9.36 per share. The deal had a 0.68% impact on the portfolio.

Richard Pzena (Trades, Portfolio) is Regions Financial’s leading shareholder among the gurus with a stake of 27,450,466 shares. The stake is 2.23% of Regions Financial’s outstanding shares. Eight other gurus have positions in Regions Financial.

Regions Financial has a price-earnings (P/E) ratio of 16.33, a forward P/E ratio of 14.49, a price-book (P/B) ratio of 1.08 and a price-sales (P/S) ratio of 3.21. GuruFocus gives Regions Financial a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10 with return on equity (ROE) of 6.35% that is lower than 65% of the companies in the Global Banks – Regional – US industry and return on assets (ROA) of 0.92% that is higher than 53% of the companies in that industry.

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Regions Financial sold for $13.74 per share at market close Friday. The DCF Calculator gives Regions Financial a fair value of $9.1.

The guru bought 85,000 shares of The WhiteWave Foods Co. (NYSE:WWAV), a packaged food company based in Broomfield, Colorado, for an average price of $55.05 per share. The transaction had a 0.61% impact on the portfolio.

Eric Mindich (Trades, Portfolio) is WhiteWave’s leading shareholder among the gurus with a stake of 3,340,905 shares. The stake is 1.89% of WhiteWave’s outstanding shares. Four other gurus have positions in WhiteWave.

WhiteWave has a P/E ratio of 49.24, a forward P/E ratio of 34.01, a P/B ratio of 6.90 and a P/S ratio of 2.39. GuruFocus gives WhiteWave a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10 with ROE of 15.45% that is higher than 75% of the companies in the Global Packaged Foods industry and ROA of 4.63% that is higher than 57% of the companies in that industry.

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WhiteWave sold for $55.19 per share Friday. The DCF Calculator gives WhiteWave a fair value of $11.99.

The guru invested in 91,892 shares of Dell Technologies Inc. (NYSE:DVMT), a Texas-based information technology company, for an average price of $46.83 per share. The deal had a 0.58% impact on the portfolio.

Dodge & Cox is Dell Technologies’ leading shareholder among the gurus with a stake of 10,811,775 shares. The stake is 4.85% of Dell Technologies’ outstanding shares. Nineteen other gurus have positions in Dell Technologies.

Dell Technologies has a P/B ratio of 5.68. GuruFocus gives Dell Technologies a Financial Strength rating of 3/10 and a Profitability and Growth rating of 3/10 with ROE of -20.10% that is lower than 88% of the companies in the Global Computer Systems industry and ROA of -0.63% that is lower than 70% of the companies in that industry.

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Dell Technologies sold for $52.75 per share Friday. The DCF Calculator gives Dell Technologies a fair value of $-38.42.

The guru purchased 715,237 shares of Accuride Corp. (NYSE:ACW), a vehicle parts manufacturer based in Evansville, Indiana, for an average price of $1.78 per share. The transaction had a 0.24% impact on the portfolio.

Jim Simons (Trades, Portfolio) is Accuride’s leading shareholder among the gurus with 724,400 shares. The holding is 1.5% of Accuride’s outstanding shares. Mario Gabelli (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) also have positions in Accuride.

Accuride has a P/B ratio of 5.10 and a P/S ratio of 0.21. GuruFocus gives Accuride a Financial Strength rating of 3/10 and a Profitability and Growth rating of 5/10 with ROE of -94.65% that is lower than 98% of the companies in the Global Auto Parts industry and ROA of -7.93% that is lower than 92% of the companies in that industry.

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Accuride sold for $2.58 per share Friday. The DCF Calculator gives Accuride a fair value of $-5.99.

The guru bought 57,200 shares of Randolph Bancorp Inc. (NASDAQ:RNDB), the Massachusetts-based holding company for Randolph Savings Bank, for an average price of $12.79 per share. The deal had a 0.1% impact on the portfolio.

Randolph Bancorp has a P/E ratio of 123.49, a P/B ratio of 1.01 and a P/S ratio of 3.28. GuruFocus gives Randolph Bancorp a Financial Strength rating of 5/10 and a Profitability and Growth rating of 3/10 with ROE of 6.30% that is lower than 65% of the companies in the Global Banks – Regional – US industry and ROA of 0.37% that is lower than 78% of the companies in that industry.

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Randolph Bancorp sold for $14.62 per share Friday. The DCF Calculator gives Randolph Bancorp a fair value of $1.28.

The guru invested in 53,382 shares of FSB Bancorp Inc. (NASDAQ:FSBC), a holding company for First State Bank of Altus, Oklahoma, for an average price of $12.57 per share. The transaction had a 0.09% impact on the portfolio.

FSB Bancorp has a P/E ratio of 59.38, a P/B ratio of 0.88 and a P/S ratio of 3.23. GuruFocus gives FSB Bancorp a Financial Strength rating of 4/10 and a Profitability and Growth rating of 3/10 with ROE of 2.25% and ROA of 0.21% that are lower than 86% of the companies in the Global Banks – Regional – US industry.

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FSB Bancorp sold for $14.23 per share Friday. The DCF Calculator gives FSB Bancorp a fair value of $2.46.

The guru also purchased 29,380 shares of Florida-based BKF Capital Group Inc. (BKFG) in the third quarter.

Disclosure: I do not own any stocks mentioned in this article.

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About the author:

David Goodloe
I'm a journalist by training. I grew up in Arkansas and earned my B.A. at the University of Arkansas. I earned my master's degree at the University of North Texas. My background includes stints at newspapers in Arkansas and Texas and teaching news writing and news editing to students at the University of Oklahoma and Richland College here in Dallas. I'm a writer/editor at GuruFocus.

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