Texas Capital Bank Wealth Management Services Inc Makes New Investment in Stellarone Corp $STEL

Texas Capital Bank Wealth Management Services Inc acquired a new position in Stellarone Corp (NYSE:STEL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,580 shares of the financial services provider’s stock, valued at approximately $1,194,000. Texas Capital Bank Wealth Management Services Inc owned approximately 0.07% of Stellarone at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Stellarone by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,275,827 shares of the financial services provider’s stock worth $101,354,000 after purchasing an additional 18,749 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Stellarone by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,298,419 shares of the financial services provider’s stock worth $69,733,000 after purchasing an additional 47,992 shares in the last quarter. North Reef Capital Management LP raised its holdings in Stellarone by 18.8% in the 3rd quarter. North Reef Capital Management LP now owns 1,829,937 shares of the financial services provider’s stock worth $55,520,000 after purchasing an additional 289,937 shares in the last quarter. Millennium Management LLC raised its holdings in Stellarone by 34.6% in the 3rd quarter. Millennium Management LLC now owns 1,237,830 shares of the financial services provider’s stock worth $37,556,000 after purchasing an additional 318,011 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Stellarone by 8.1% in the 3rd quarter. William Blair Investment Management LLC now owns 1,154,945 shares of the financial services provider’s stock worth $35,041,000 after purchasing an additional 86,363 shares in the last quarter. 54.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Stellarone Stock Down 0.9%

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 market capitalization of $1.90 billion, a PE ratio of 18.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.89 and a quick ratio of 0.89. Stellarone Corp has a 1-year low of $26.30 and a 1-year high of $40.21.

Stellarone (NYSE:STEL) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $111.04 million for the quarter, compared to the consensus estimate of $108.41 million. Stellarone had a net margin of 17.56% and a return on equity of 6.54%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. On average, equities analysts predict that Stellarone Corp will post 2.04 EPS for the current fiscal year.

Stellarone Dividend Announcement

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

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.