Is First NBC Bank Holding Company (FNBC) Worthy of Your Portfolio?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. At the top of the heap, Amy Minella’s Cardinal Capital cut the biggest stake of all the investors watched by Insider Monkey, comprising close to $9.9 million in stock, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors was right behind this move, as the fund sold off about $0.5 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as First NBC Bank Holding Company (NASDAQ:FNBC) but similarly valued. These stocks are Skullcandy Inc (NASDAQ:SKUL), Codexis, Inc. (NASDAQ:CDXS), FuelCell Energy, Inc. (NASDAQ:FCEL), and LCNB Corp. (NASDAQ:LCNB). This group of stocks’ market caps match FNBC’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SKUL 10 3978 -4
CDXS 5 34133 2
FCEL 3 7234 -1
LCNB 2 2982 0

As you can see these stocks had an average of five funds with bullish positions and the average amount invested in these stocks was $12 million. That figure was $19 million in FNBC’s case. Skullcandy Inc (NASDAQ:SKUL) is the most popular stock in this table. On the other hand LCNB Corp. (NASDAQ:LCNB) is the least popular one with only two bullish hedge fund positions. Compared to these stocks First NBC Bank Holding Company (NASDAQ:FNBC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none