Maltese Capital Portfolio Changes
Maltese Capital Management Actively Adjusts Bank Stakes, Raising BNY Mellon and Meridian Holdings
Anonymous
Key Points
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For Bank of New York Mellon, Maltese Capital Management disclosed it owned 19,500 shares after adding 5,800 in the quarter, and the article notes 85.31% of the stock is held by hedge funds and other institutional investors. It also cites analysts including Evercore’s $136 price target and Barclays raising its target to $149 with an “overweight” rating, while Citigroup initiated coverage with a “neutral” rating.
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For Meridian Bank, the article adds company-specific trading and financial context: MRBK opened at $19.74, and the bank’s valuation/financial metrics were listed as a debt-to-equity ratio of 0.25 with a current ratio of 0.97 and quick ratio of 0.96. It also provides a 52-week range of $11.16 to $21.67 and notes 58.56% of MRBK is owned by institutional investors and hedge funds.
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For Civista Bancshares, the article specifies that Maltese owned 149,315 shares after selling 134,685 and that the stock opened at $26.49. It further notes CIVB’s 12-month low/high of $18.94/$28.31 and gives 52.10% institutional ownership, with a listed debt/cash liquidity metric showing a current ratio of 0.93.
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For Capital City Bank Group, beyond Maltese’s trim, the article adds other investors’ activity (e.g., Tower Research Capital LLC/TRC increasing its stake by 1,282.5% to 4,106 shares valued at about $162,000) and cites analyst coverage including Weiss Ratings reissuing a “buy (b)” rating, Wall Street Zen cutting from “hold” to “sell,” and Capital One Financial setting a $49.50 price objective.
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For United Bankshares, the article provides additional balance-sheet and trading context not in the summary: UBS opened at $44.86 and the company’s ratios were listed as debt-to-equity of 0.10 with a current ratio and quick ratio of 0.98/0.98, respectively. It also states 70.80% of UBSI stock is owned by hedge funds and other institutional investors.
Maltese Capital Management LLC raised its stake in Bank of New York Mellon by 42.3% in the first quarter of 2026, adding 5,800 shares to bring its total to 19,500 shares worth about $2.3 million, according to Watchlist News. The move is part of a broader reshuffling — the fund also sharply expanded its bet on United Bankshares while cutting positions in two smaller regional banks.
The filing, submitted to the SEC on May 15, 2026, signals a clear shift in strategy. Maltese appears to be moving money away from small community banks and toward larger, more institutionally dominant names with diversified income streams.
BNY Mellon and United Bankshares Get the Biggest Boosts
Bank of New York Mellon is the headline move. Maltese bought 5,800 shares during Q1, lifting its position 42.3%. Barclays analyst Jason Goldberg raised his price target on BNY to $149 with an "overweight" rating, pointing to the bank's "operating leverage trajectory," according to Watchlist News. Evercore set a $136 target. Citigroup initiated coverage with a more cautious "neutral" rating, suggesting the stock's valuation near 52-week highs may limit near-term gains.
United Bankshares got nearly as much love. Maltese grew that position by 39%, pushing its holding to about $5.5 million. The bank carries a debt-to-equity ratio of just 0.10 — a sign of a very clean balance sheet. United Bankshares reported record 2025 earnings after completing its Piedmont Bancorp acquisition, and it is expected to close its Peach State Bank deal in Q3 2026. Institutional investors own 70.80% of the stock.
Meridian Bank Stake Explodes 333% to $607,000
Maltese also made an aggressive move into Meridian Bank, buying enough shares to lift its stake by 333.2%. The fund now holds 34,523 shares worth about $607,000, according to Watchlist News. MRBK shares traded around $19.74 at the open, within a 52-week range of $11.16 to $21.67. The bank carries a debt-to-equity ratio of 0.25.
Institutional investors own 58.56% of Meridian Bank — the lowest institutional ownership among Maltese's major positions. The small size of the bet, under $650,000, suggests Maltese is treating MRBK as a speculative add rather than a core holding.
Civista and Capital City Bank Take the Biggest Cuts
Maltese sold 134,685 shares of Civista Bancshares — roughly half its position — leaving it with 149,315 shares valued at about $3.3 million. CIVB opened at $26.49, near the top of its 12-month range of $18.94 to $28.31, according to Watchlist News. The market absorbed the selling without a big price drop. Institutional investors own 52.10% of the stock, the lowest of any major Maltese holding.
Capital City Bank Group was trimmed by about one-third, leaving a stake worth roughly $2.1 million. Analyst views on CCBG are split. Weiss Ratings kept a "buy (b)" rating on the stock, while Wall Street Zen cut it from "hold" to "sell." Capital One Financial has a $49.50 price target. Notably, Tower Research Capital moved the other way — it grew its CCBG stake by 1,282.5%, buying up to 4,106 shares worth about $162,000, according to Watchlist News.
A Clear Bet on Bigger Banks Over Small-Town Lenders
The pattern across all these moves is hard to miss. Maltese is pulling money from banks with under 60% institutional ownership — like Civista at 52.1% — and piling into names like BNY Mellon, where institutional investors own 85.31% of the stock. Larger custody banks like BNY earn fees on services, not just on loans. That makes them less exposed to interest rate swings than traditional community banks.
BNY Mellon has also leaned heavily into artificial intelligence for its platform operations in 2026, a move that analysts at Evercore cited as a key growth driver. With United Bankshares expanding into the Southeast and BNY sitting on over $50 trillion in assets under custody, Maltese appears to be betting on stability and scale — not interest income from local loan books.
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