Investors
Overview
Corporate Profile
Officers & Directors
Corporate Governance
Committee Charting
News & Events
Press Releases
Event Calendar
Mergers & Acquisitions
SEC Filings
Documents
Annual Report
Section 16 Filings
Insider Transactions
Institutional Ownership
Financials
Financial Highlights
As Reported Financial Statements
Financial Charting
Deposit Loan Composition
Deposit Marketshare
Peer Analysis
Stock Info
Stock Quote
Historic Prices
Dividends
Financial Calculators
Resources
Information Request
Email Notification
FAQ
IR Site Map
X
Investor Relations
Locations & Hours
Open an Account
News & Blog
Contact Us
Login
X
Investor Relations
Locations & Hours
Open an Account
News & Blog
Contact Us
Menu
Institutional Ownership
Ownership > 100%
Copyright
,
© Powered By Q4 Inc.
Ownership > 100%
List of possible reasons behind the infrequent cases where we have total institutional ownership that exceeds 100% of the common shares outstanding for a specific company:
Double-counting
- On the 13-F filing, each institutional holder must report all securities over which they exercise sole or shared investment discretion. In cases where investment discretion is shared by more than one institution, care is generally taken to prevent double-counting, but there is always the exception. Another cause of double-counting is a company name change for the 13F filer where the holdings are accounted for under both filer names.
Short Interest
- A large short interest amount affects the institutional ownership amount considerably because all shares that have been sold short appear as holdings in two separate portfolios. One institution has lent its shares to a short seller, while the same shares have been purchased by another reporting institution. Consequently, the institutional ownership percentage reflected in the 13-F filings is overstated as a percentage of total shares outstanding.
A gap between 'as of' dates
- In the case where gaps between the 'as of' dates of the holdings and the shares outstanding arise, the percentage owned could be skewed due to a sharp increase/decrease in shares out. Again, this case doesn’t come up very often but the results are unavoidable.
Other possible reasons:
a) An overlap occurs amongst reporting institutions;
b) The 13F filing includes holdings other than common stock issues;
c) Mutual fund money is co-advised and incorrectly reported by multiple institutions.