TFO Wealth Partners LLC boosted its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI – Free Report) by 123,750.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,477 shares of the bank’s stock after purchasing an additional 2,475 shares during the quarter. TFO Wealth Partners LLC’s holdings in Texas Capital Bancshares were worth $160,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Texas Capital Bancshares during the fourth quarter worth about $35,120,000. Wellington Management Group LLP grew its position in Texas Capital Bancshares by 78.0% during the third quarter. Wellington Management Group LLP now owns 559,200 shares of the bank’s stock worth $32,937,000 after buying an additional 245,074 shares during the period. Louisiana State Employees Retirement System acquired a new position in Texas Capital Bancshares during the fourth quarter worth about $873,000. Trexquant Investment LP acquired a new position in Texas Capital Bancshares during the fourth quarter worth about $3,402,000. Finally, Walleye Capital LLC grew its position in shares of Texas Capital Bancshares by 63.9% in the third quarter. Walleye Capital LLC now owns 174,311 shares of the bank’s stock valued at $10,267,000 after purchasing an additional 67,964 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Texas Capital Bancshares news, Director Robert W. Stallings bought 3,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $19.36 per share, with a total value of $58,080.00. Following the purchase, the director now owns 169,706 shares in the company, valued at approximately $3,285,508.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert W. Stallings purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $19.52 per share, with a total value of $117,120.00. Following the purchase, the director now directly owns 163,706 shares of the company’s stock, valued at approximately $3,195,541.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stallings purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average cost of $19.36 per share, for a total transaction of $58,080.00. Following the purchase, the director now directly owns 169,706 shares in the company, valued at $3,285,508.16. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,004 shares of company stock valued at $292,878 over the last quarter. Company insiders own 1.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Texas Capital Bancshares from $70.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Royal Bank of Canada lowered their price target on shares of Texas Capital Bancshares from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Barclays assumed coverage on shares of Texas Capital Bancshares in a research report on Friday, March 8th. They issued an “underweight” rating and a $47.00 price target on the stock. Raymond James lowered shares of Texas Capital Bancshares from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Texas Capital Bancshares from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.58.
Check Out Our Latest Analysis on Texas Capital Bancshares
Texas Capital Bancshares Stock Performance
NASDAQ:TCBI opened at $58.83 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.74 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.48 and a beta of 1.15. Texas Capital Bancshares, Inc. has a fifty-two week low of $48.41 and a fifty-two week high of $66.18. The firm’s 50 day moving average is $59.40 and its two-hundred day moving average is $59.84.
Texas Capital Bancshares (NASDAQ:TCBI – Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $256.33 million for the quarter, compared to the consensus estimate of $253.27 million. Texas Capital Bancshares had a net margin of 9.66% and a return on equity of 7.05%. Analysts expect that Texas Capital Bancshares, Inc. will post 3.53 EPS for the current year.
Texas Capital Bancshares 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.
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