Should You Now Consider Acquiring Texas Capital (TCBI) Shares?
Bernzott Capital Advisors, an investment management firm, published its "US Small Cap Value Fund" third-quarter 2022 investor letter – a copy of which can be downloaded here. During the third quarter of the year, the portfolio fell –9.48% (net), below the R2000V’s decline of –4.6% and the R2500V’s decline of –4.5%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, Bernzott Capital Advisors US Small Cap Value Fund mentioned Texas Capital Bancshares, Inc. (NASDAQ:TCBI) and explained its insights for the company. Founded in 1996, Texas Capital Bancshares, Inc. (NASDAQ:TCBI) is a Dallas, Texas-based bank holding company with a $2.9 billion market capitalization. Texas Capital Bancshares, Inc. (NASDAQ:TCBI) delivered a -1.96% return since the beginning of the year, while its 12-month returns are down by -2.73%. The stock closed at $59.07 per share on November 23, 2022.
Here is what Bernzott Capital Advisors US Small Cap Value Fund has to say about Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in its Q3 2022 investor letter:
"Texas Capital Bancshares (NASDAQ:TCBI): The current CEO joined in January 2020 following a successful career at JPMorgan Chase. He has sparked a plan for renewed growth with initiatives including doubling client-facing bankers, improving coverage of C&I customers, and expanding services in treasury and private wealth. The Dallas-based bank benefits from its strong regional market. In September, the company announced the sale of a non-core insurance unit as part of its transformation. Successful execution should drive earnings growth, and stock appreciation should be enhanced by multiple expansion as TCBI trades at below-peer 0.8x price-to-tangible book value."
Our calculations show that Texas Capital Bancshares, Inc. (NASDAQ:TCBI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was in 24 hedge fund portfolios at the end of the second quarter of 2022, compared to 19 funds in the previous quarter. Texas Capital Bancshares, Inc. (NASDAQ:TCBI) delivered a -3.83% return in the past 3 months.
In November 2022, we also shared another hedge fund’s views on Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.
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Disclosure: None. This article is originally published at Insider Monkey.
