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Forest Hill Capital’s most valuable position at the end of fourth quarter of 2018 was in Sprott Physical Gold Trust (NYSE:PHYS), a closed-end mutual fund trust. The fund’s position in the company counted 1.45 million shares with a value of $15.21 million. Over the past six months, Sprott Physical Gold Trust’s stock gained 7.14%, having a closing price on May 13th of $10.36. The second biggest position, the fund reported in Sandy Spring Bancorp Inc. (NASDAQ:SASR), a bank holding company that operates 44 branches and six financial centers. Even after a reduction of its investment by 16%, this company was still the fund’s second strongest position with 420,673 shares with a value of $13.18 million.
The next in line of the biggest holdings in Forest Hill Capital’s 13F portfolio was Pinnacle Financial Partners Inc (NASDAQ:PNFP), which is a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The fund’s stake in this company was worth $12.56 million from the 272,393 shares it held. The company’s market cap is of $4.21 billion while trading at a P/E ratio of 11.52. Year-to-date, its stock gained 18.29%, having a closing price on May 13th of $55.05.
Among the fund’s Q4 valuable portfolio additions was Signature Bank New York NY (NASDAQ:SBNY) whose 47,028 shares with a value of $4.84 million the fund purchased. The company is a full-service commercial bank that offers business and personal banking products and services.
During the last quarter of 2018, Forest Hill Capital boosted its investment in Stoneridge Inc (NYSE:SRI) by 34%. This is a company dedicated to designing and manufacturing of electrical and electronic components for the automotive and commercial vehicle markets. After raising its stake the fund reported holding 80,000 shares, worth $1.97 million. Also, the fund decided to increase its stake by 15% in South State Corp (NASDAQ:SSB) to 164,318 shares with a value of $ 9.85 million.
This article was originally published at Insider Monkey.