Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” first-quarter 2023 investor letter, a copy of which can be downloaded here. In the first quarter, the fund was flat on a net basis (-0.06%) compared to R2000V’s decline of -0.7% and R2500V’s rise of +1.4%. Financials was the leading contributor towards the fund’s relative performance in the quarter with positive stock selection while Health Care and Information Technology detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors US Small Cap Value Fund highlighted stocks like Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the first quarter 2023 investor letter. Headquartered in Dallas, Texas, Texas Capital Bancshares, Inc. (NASDAQ:TCBI) is a bank holding company. On April 21, 2023, Texas Capital Bancshares, Inc. (NASDAQ:TCBI) stock closed at $51.86 per share. One-month return of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) was 3.10%, and its shares lost 2.28% of their value over the last 52 weeks. Texas Capital Bancshares, Inc. (NASDAQ:TCBI) has a market capitalization of $2.483 billion.
Bernzott Capital Advisors US Small Cap Value made the following comment about Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in its Q1 2023 investor letter:
“Texas Capital Bancshares, Inc. (NASDAQ:TCBI): The stock was caught up in the bank stock downdraft. Texas Capital has strong capital ratios and liquidity, as well as below average exposure to CRE, an area of growing concern and scrutiny among investors. The bank continues to be run by Rob Holmes, former head of Consumer banking at JPMorgan Chase, and remains well positioned for long term success while trading at a price to tangible book multiple only seen during the Great Financial Crisis in 2009 and the depths of the pandemic in 2020.”
Human hand holding christmas present wrapped in dollar banknotes isolated on white
Texas Capital Bancshares, Inc. (NASDAQ:TCBI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Texas Capital Bancshares, Inc. (NASDAQ:TCBI) at the end of the fourth quarter which was 24 in the previous quarter.
We discussed Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in another article and shared Meridian Contrarian Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Best Airline Stocks to Buy
- Top 15 Luxury Fashion Companies in the World
- 10 Cheap Canadian Stocks to Buy
Disclosure: None. This article is originally published at Insider Monkey.
