Texas Capital Bank Wealth Management Services Inc Purchases 4,508 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Texas Capital Bank Wealth Management Services Inc grew its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 73.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,616 shares of the bank’s stock after acquiring an additional 4,508 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Texas Capital Bancshares were worth $830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC lifted its stake in shares of Texas Capital Bancshares by 107.2% in the 3rd quarter. Jane Street Group LLC now owns 132,672 shares of the bank’s stock valued at $9,481,000 after purchasing an additional 68,632 shares during the last quarter. US Bancorp DE raised its holdings in Texas Capital Bancshares by 1,575.0% during the 4th quarter. US Bancorp DE now owns 10,519 shares of the bank’s stock valued at $823,000 after buying an additional 9,891 shares during the period. Victory Capital Management Inc. raised its stake in shares of Texas Capital Bancshares by 37.5% in the fourth quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank’s stock valued at $7,538,000 after acquiring an additional 26,294 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Texas Capital Bancshares by 19.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,606 shares of the bank’s stock worth $4,045,000 after acquiring an additional 9,225 shares during the last quarter. Finally, Barclays PLC grew its holdings in Texas Capital Bancshares by 19.6% during the 3rd quarter. Barclays PLC now owns 108,950 shares of the bank’s stock valued at $7,786,000 after purchasing an additional 17,863 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TCBI shares. Barclays dropped their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an “underweight” rating for the company in a report on Tuesday. DA Davidson dropped their target price on shares of Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a research note on Wednesday, January 29th. Hovde Group reduced their price target on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, March 7th. Finally, StockNews.com raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Texas Capital Bancshares presently has an average rating of “Hold” and an average price target of $80.36.

Texas Capital Bancshares Stock Down 7.5 %

Shares of TCBI stock opened at $61.24 on Friday. The stock’s fifty day moving average price is $75.42 and its 200 day moving average price is $78.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 1-year low of $54.68 and a 1-year high of $91.80. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

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

Insiders Place Their Bets

In related news, Director Robert W. Stallings acquired 7,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $20.43 per share, for a total transaction of $143,010.00. Following the completion of the purchase, the director now owns 49,500 shares of the company’s stock, valued at approximately $1,011,285. This represents a 16.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have purchased 29,402 shares of company stock valued at $653,787. Insiders own 1.72% of the company’s stock.

Texas Capital Bancshares Company Profile

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.