Texas Capital Bank Wealth Management Services Inc Acquires New Position in Stellarone Corp $STEL

Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Stellarone Corp (NYSE:STEL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 38,580 shares of the financial services provider’s stock, valued at approximately $1,194,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Stellarone by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,275,827 shares of the financial services provider’s stock valued at $101,354,000 after purchasing an additional 18,749 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Stellarone by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,298,419 shares of the financial services provider’s stock valued at $69,733,000 after purchasing an additional 47,992 shares during the last quarter. North Reef Capital Management LP grew its position in Stellarone by 18.8% during the 3rd quarter. North Reef Capital Management LP now owns 1,829,937 shares of the financial services provider’s stock valued at $55,520,000 after purchasing an additional 289,937 shares during the last quarter. Millennium Management LLC grew its position in Stellarone by 34.6% during the 3rd quarter. Millennium Management LLC now owns 1,237,830 shares of the financial services provider’s stock valued at $37,556,000 after purchasing an additional 318,011 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Stellarone by 8.1% during the 3rd quarter. William Blair Investment Management LLC now owns 1,154,945 shares of the financial services provider’s stock valued at $35,041,000 after purchasing an additional 86,363 shares during the last quarter. 54.15% of the stock is owned by hedge funds and other institutional investors.

Stellarone Stock Performance

Shares of NYSE STEL opened at $37.37 on Thursday. The firm’s 50-day moving average price is $37.00 and its 200-day moving average price is $34.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.90 billion, a PE ratio of 18.23 and a beta of 0.72. Stellarone Corp has a 52-week low of $26.30 and a 52-week high of $40.21.

Stellarone (NYSE:STEL) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Stellarone had a net margin of 17.56% and a return on equity of 6.54%. The firm had revenue of $111.04 million for the quarter, compared to analysts’ expectations of $108.41 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that Stellarone Corp will post 2.04 EPS for the current year.

Stellarone Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 15th. Stellarone’s dividend payout ratio is 29.27%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James Financial downgraded shares of Stellarone from a “moderate buy” rating to a “hold” rating in a research report on Thursday, January 29th. Weiss Ratings raised shares of Stellarone from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods raised shares of Stellarone from a “market perform” rating to an “outperform” rating and raised their price target for the company from $33.00 to $44.00 in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Stellarone Company Profile

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.