Tag - TCBI

Famous Daves of America Inc. (Nasdaq:DAVE), Texas Capital Bancshares Inc. (Nasdaq:TCBI) and Acorda Therapeutics Inc. (Nasdaq:ACOR) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: iRobot Corp. (Nasdaq:IRBT), Vitran Corp Inc. (Nasdaq:VTNC), NetGear Inc. (Nasdaq:NTGR), Monarch Casino & Resort Inc. (Nasdaq:MCRI), Spire Corp. (Nasdaq:SPIR) and Gulf Island Fabrication Inc. (Nasdaq:GIFI).

Bankrate Inc (Nasdaq:RATE), First Bancorp Inc  (Nasdaq:FBNC) and United America Indemnity Ltd (Nasdaq:INDM) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gildan Activewear Inc (Nasdaq:GIL), First United Corp Maryland (Nasdaq:FUNC), Investors Title Co (Nasdaq:ITIC), Albany International Corp (Nasdaq:AIN), Texas Capital Bancshares Inc (Nasdaq:TCBI) and NACCO Industries Inc (Nasdaq:NC).

Small-cap stocks went into a tailspin in early trading, pulled down by a gloomy report on the jobs front ahead of Friday’s key employment release. In addition, some big companies announced plans to slash workers or cautioned on the outlook, which sent a chill into a market that started out the year on a decent roll.  Some of today’s small-cap gainers are NetScout Systems, Inc. (Nasdaq:NTCT), Polycom Inc. (Nasdaq:PLCM) and AK Steel (NYSE:AKS).

Other Market Watch highlights today included:

• Looking at the chart picture, the Russell 2000 finished Tuesday near a test of logical resistance at 514.50 but appears set to retreat from that zone early today.  
• The ADP National Employment Report showed a startling drop in jobs of 693,000, way above the forecast for a decline of 480,000.  
• The Dow is expected to open about 125 points lower, while the Russell 2000 is seen down about 1.2%, near 508.50.  
• U.S. stocks are expected to open lower, pulled down by declines in Europe and a private employment survey this morning that came in weaker-than-expected.

Small Cap Gainers:

• NetScout Systems, Inc. is up 30% to $13.33 after announcing preliminary Q3 results and raising FY2009 guidance Tuesday. (See Nasdaq:NTCT)  
• Video-conferencing products maker Polycom Inc. is up 11% in pre-market trading to $15.40 after issuing upward guidance and announcing job cuts late Tuesday. (See Nasdaq:PLCM)
• AK Steel is 7.1% higher at $11.96 after Goldman Sachs upgraded the firm to "Buy" from "Neutral." (See NYSE:AKS)  
• Finish Line Inc. is up 6.5% at $5.73 after reporting a narrower 3Q loss after the close Tuesday. (See Nasdaq:FINL)  

Small Cap Losers:

• Hill-Rom Holdings, Inc. and Texas Capital BancShares Inc. established new 52-week lows in early trading. (See NYSE:HRC, Nasdaq:TCBI)  
• Blyth Inc., which makes home-fragrance products and other household items, is down 11% to $6.19 after a downgrade by Jefferies & Co. (See NYSE:BTH)  
• Polymer products maker Landec Corporation is down 23% to $5.65 after news this morning of a downgrade from Northland Securities. (See Nasdaq:LNDC)

Texas Capital Bancshares Inc. (Nasdaq:TCBI) is the sole 52-week low on Tuesday's session.

CONMED Corp (Nasdaq:CNMD), Mercantile Bancorp (Nasdaq:MBR) and Digi International Inc (Nasdaq:DGII) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

SemGroup Energy Partners LP (Nasdaq:SGLP), TeleTech Holdings Inc (Nasdaq:TTEC) and Insteel Industries Inc (Nasdaq:IIIN) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: ValueClick Inc (Nasdaq:VCLK), Courier Corp (Nasdaq:CRRC), Citizens Holdings Co (Nasdaq:CIZN), Texas Capital Bancshares Inc (Nasdaq:TCBI), Meridian Bioscience Inc (Nasdaq:VIVO) and Lakeland Bancorp Inc (Nasdaq:LBAI).

Here are the biggest percentage losers among small caps:

Fuqi International, Inc. (Nasdaq:FUQI), Aspect Medical Systems, Inc. (Nasdaq:ASPM) and Provident Bankshares Corp. (Nasdaq:PBKS) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $750 million.

Cano Petroleum, Inc. (AMEX:CFW), Texas Capital Bancshares, Inc. (Nasdaq:TCBI) and Knoll, Inc. (NYSE:KNL) are also among the top small-cap percentage gainers.

Here are Thursday's biggest percentage gainers among small caps:

Shares of Texas Capital Bancshares, Inc. (Nasdaq:TCBI) are higher on news after the close on Wednesday that the Dallas-based bank holding company met analysts’ first-quarter profit expectations. Earnings for the first three months of 2008 were $7.9 million, or $0.30 per share, in line with the consensus forecast of 11 analysts polled by Thomson Financial. During the first-quarter of 2007 net income was $5.4 million, or $0.20 per share.

At 10:22 a.m. ET, the stock had gained $1.88, or 12%, to $17.76.

The credit crunch continues to take its toll on the economy, markets, and in particular, banking stocks. Analysts warn not to touch the Bank of America’s of the world, as there are only future write downs ahead. However, with little to no exposure to mortgage-backed securities, regional banks have cleaner and stronger balance sheets and may be overlooked long-term investment opportunities.

“If you’re patient and have the nerves to withstand the volatility of the market, I think you can get into the small-cap space, but you have to be highly selective,” said B. Riley senior banking analyst Andy Stapp. “There are banks whose assets will hold up well. That’s what happened in the last credit cycle, which was a real estate-related cycle.”

The top three qualities Stapp looks for when screening small-cap banks are markets, conservative management profile and the extent of the bank’s construction development portfolio.

“It starts by picking regional banks that operate in markets that have held up better than others,” said Stapp. “Pick banks that aren’t as vulnerable to the rise and real estate market.”

He says banks in California, Florida and Michigan have had a lot of exposure to real estate, as the value of real estate in those states has plummeted. However, there are other states in which the real estate market has better weathered the housing downturn.

“Texas is a much stronger market than the nation as a whole,” said Stapp. “The inventory supply levels are much lower [there]. The markets in the Philadelphia area and mid-Atlantic area have also held up much better.”

According to Stapp, the median value of single family homes in those markets actually rose 1% year-over-year in the fourth quarter, as contrasted with steep double-digit declines in markets like California, Florida and Michigan. 

Some small-cap banks Stapp has “buy” ratings on include Bank of the Ozarks (Nasdaq:OZRK). The bank has one of the bigger construction development portfolios that has less perceived risk than its peers, according . . .