2. Texas Capital Bancshares

Texas Capital Bancshares ( TCBI) of Dallas has seen its stock rise 8% year-to-date, through Monday's close at $33.09.

The company had $8.1 billion in total assets as of Dec. 30, with full-service offices in Austin, Dallas, Fort Worth, Houston and San Antonio, focusing on "commercial businesses and high net worth individuals." The company is a warehouse mortgage lender, quickly packaging new mortgage loans for sale, usually within 20 days of origination.

Texas Capital Bancshares reported fourth-quarter earnings of $25.7 million, or 67 cents a share, increasing from $21.7 million, or 56 cents a share, in the third quarter, and $12.1 million, or 32 cents a share, in the fourth quarter of 2010.

The company's fourth-quarter net revenue grew 15% from the previous quarter and 53% year-over-year, to $46.9 million. Net interest income increased 34% year-over-year to $88.1 million, as Texas Capital grew its deposits by 26%, while cutting its interest expense in half, to $4.8 million in the fourth quarter. The deposit mix improved, with coveted demand deposits increasing 21% year-over-year, while total deposits increased only 2%.

The company's ROA has ranged between 0.77% and 1.29% over the past five quarters.

Morgan Keegan analyst Robert Patten rates Texas Capital Bancshares "Outperform," with a $38 price target, saying on Jan. 26 after the fourth-quarter results were announced that the company's "stellar returns...with return on equity of 17.1% and ROA of 1.3% for 4Q11, were the best in TCBI's 13 year history."

Patten calls Texas Capital "a pure Texas organic growth story that still has plenty of legs," that is "positioning and managing the warehouse growth to achieve sustainable revenues, taking advantage of ongoing dislocations and market exits by some major warehouse players though using participations and driving fee income."

The analyst expects the company's "momentum to continue through 2012 and consider TCBI as a must-own stock for any bank stock portfolio and project Y/Y EPS growth of 24% in 2012 (versus the 1% median of Morgan Keegan small-cap peers) and 12% in 2013."

The shares trade for 2.1 times tangible book value and for 14 times the consensus 2012 EPS estimate of $2.68.

The shares pulled back slightly on Wednesday, to close at $32.90.

Interested in more on Texas Capital Bancshares? See TheStreet Ratings' report card for this stock.

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