Jacobs Asset Management LLC's total common stock holdings were down 13.8% quarter over quarter to $213.8 million as of Dec. 31, 2021, according to the New York-based money manager's most recent Form 13F filing.

During the fourth quarter, Jacobs Asset Management raised its holdings in Seattle-based Washington Federal Inc. by 40.1%, with the stake valued at $7.5 million at the end of the quarter.

The money manager continued to reduce holdings in San Francisco-based LendingClub Corp., as it shed a 39.2% stake in the fourth quarter. The reduction replaced the lending company from Jacobs' largest shareholding company. Jacobs Asset Management's shareholdings in LendingClub were down to $10.9 million at the end of the fourth quarter, compared to $20.9 million on Sept. 30, 2021.

Even though the money manager shed 16.7% shareholdings in Puerto Rico-based Popular Inc., it still emerged as Jacobs Asset Management's largest holding company, based on a market value of $16.4 million as of Dec. 31, 2021.

Jacobs Asset Management revealed nine new positions worth a combined $31.9 million on Dec. 31, 2021, led by a $5.9 million stake in Northbrook, Ill.-based Allstate Corp.

In the fourth quarter, Jacobs Asset Management exited 10 positions, including a $7.9 million stake in New York-based CIT Group Inc. and a $6.3 million holding in Raleigh, N.C.-based First Citizens BancShares Inc. Both companies completed their all-stock merger of equals on Jan. 3.