ExodusPoint Capital Management LP Makes New Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

ExodusPoint Capital Management LP purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 77,643 shares of the bank’s stock, valued at approximately $6,072,000. ExodusPoint Capital Management LP owned 0.17% of Texas Capital Bancshares at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TCBI. Vanguard Group Inc. boosted its holdings in shares of Texas Capital Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank’s stock valued at $367,327,000 after purchasing an additional 20,245 shares during the last quarter. Geode Capital Management LLC increased its stake in Texas Capital Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,145,271 shares of the bank’s stock worth $81,856,000 after acquiring an additional 13,022 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Texas Capital Bancshares by 15.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,123,221 shares of the bank’s stock worth $80,265,000 after purchasing an additional 150,301 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Texas Capital Bancshares by 22.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank’s stock valued at $58,246,000 after purchasing an additional 138,734 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Texas Capital Bancshares by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank’s stock worth $49,101,000 after purchasing an additional 15,320 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TCBI shares. StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Hovde Group cut their target price on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, March 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 price target (down from $100.00) on shares of Texas Capital Bancshares in a research report on Wednesday, January 29th. Stephens lowered their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.43.

Insider Buying and Selling

In other news, Director Robert W. Stallings purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $20.43 per share, with a total value of $143,010.00. Following the transaction, the director now owns 49,500 shares in the company, valued at approximately $1,011,285. The trade was a 16.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders bought 29,402 shares of company stock worth $653,787. Corporate insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $64.50 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $77.21 and a 200-day moving average of $78.72. The stock has a market cap of $2.98 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74. Texas Capital Bancshares, Inc. has a 52 week low of $54.68 and a 52 week high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.