In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Si Financial Group Inc. (NASDAQ:SIFI) reported that Clover Partners, L.p. has picked up 617,773 of common stock as of 2017-03-29.
The acquisition brings the aggregate amount owned by Clover Partners, L.p. to a total of 617,773 representing less than 5.1% stake in the company.
For those not familiar with the company, SI Financial Group, Inc. is a holding company for Savings Institute Bank and Trust Company (the Bank). The Bank operates as a community-oriented financial institution offering a range of financial services to consumers and businesses in its market area, including insurance, trust and investment services. The Bank accepts deposits from the general public and uses those funds to originate one- to four-family residential mortgage loans, multi-family and commercial real estate loans, commercial business loans, and construction and consumer loans. The Bank also purchases commercial business loans, including loans fully guaranteed by the Small Business Administration (SBA) and the United States Department of Agriculture (USDA). The Bank sells certain fixed-rate one- to four-family residential conforming loans it originates in the secondary market with the servicing retained. The remainder of the Bank’s loan portfolio is originated for investment.
A glance at Si Financial Group Inc. (NASDAQ:SIFI)’s key stats reveals a current market capitalization of 164.17 Million based on 12.20 Million shares outstanding and a price at last close of $13.55 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-12-08, Engle picked up 500 at a purchase price of $11.22. This brings their total holding to 9,907 as of the date of the filing.
On the sell side, the most recent transaction saw Gervais unload 5,379 shares at a sale price of $11.26. This brings their total holding to 14,657.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Si Financial Group Inc. (NASDAQ:SIFI) as things move forward to see if its progress aligns with these transactions.
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