Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Five Cheap Finance Stocks With Big Hedge Fund Support


– Number of Hedge Fund Holders (as of March 31): 33
– Total Value of Hedge Fund Holdings (as of March 31): $150.3 million
– Hedge Fund Holdings as Percent of Float (as of March 31): 31.20%

WMIH CORPORATION (NASDAQ:WMIH) emerged from bankruptcy proceedings as the successor to Washington Mutual in March, 2012. Since its emergence, the company has been operating in runoff mode and has not written any new business since September of 2008. The company has, however, raised substantial capital from KKR to fund acquisitions to take advantage of its $6 billion in NOLs at the end of December. Because of its capital raise, some view WMIH as a KKR ‘special purpose acquisition vehicle’ and think the success of WMIH depends on KKR’s investing talents. Overall, 33 hedge funds tracked by Insider Monkey are long the stock because they think WMIH will make good acquisitions that will deliver solid returns on capital.

Follow Mr. Cooper Group Inc. (NASDAQ:COOP)
Trade (NASDAQ:COOP) Now!

#2 MGIC Investment Corp. (NYSE:MTG)

– Number of Hedge Fund Holders (as of March 31): 37
– Total Value of Hedge Fund Holdings (as of March 31): $745.3 million
– Hedge Fund Holdings as Percent of Float (as of March 31): 28.60%

MGIC Investment Corp. (NYSE:MTG)’s shares have retreated because the company raised rates on its new insurance to earn decent returns on capital. Many investors thought the rate hikes would shrink the company’s new insurance written and ultimately lower MGIC’s income. Some analysts are unfazed, however. BTIG’s Mark Palmer believes the impact of the pricing competition within the PMI industry is already baked into the stock price and has a price target of $12 a share. According to the latest round of 13F filings, 37 investors agree with the bullish sentiment. Doug Silverman and Alexander Klabin’s Senator Investment Group was a top shareholder at the end of March.

Follow Mgic Investment Corp (NYSE:MTG)
Trade (NYSE:MTG) Now!

#1 Regions Financial Corp (NYSE:RF)

– Number of Hedge Fund Holders (as of March 31): 41
– Total Value of Hedge Fund Holdings (as of March 31): $802.99 million
– Hedge Fund Holdings as Percent of Float (as of March 31): 7.90%

Regions Financial Corp (NYSE:RF) reported a solid first quarter, with EPS of $0.20 on revenues of $1.37 billion, versus estimates of $0.19 and $1.34 billion, respectively. Average loans and leases rose by 5% year-over-year to $82 billion while NIM expanded 11 basis points sequentially to 3.19%. Tangible book value was $8.97 per share, up from $8.39 in the first quarter of 2015. Given the strong economy and the expected rising rates, it isn’t surprising that 41 elite funds held shares of the bank at the end of March; look for the stock to do well as interest rates normalize.

Follow Regions Financial Corp (NYSE:RF)
Trade (NYSE:RF) Now!

Disclosure: none

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.