Balyasny Asset Management L.P. Takes $6.98 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Balyasny Asset Management L.P. purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 89,242 shares of the bank's stock, valued at approximately $6,979,000. Balyasny Asset Management L.P. owned about 0.19% of Texas Capital Bancshares at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Texas Capital Bancshares by 19.6% in 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 period. Moody National Bank Trust Division increased its position in Texas Capital Bancshares by 9.5% during the 4th quarter. Moody National Bank Trust Division now owns 17,371 shares of the bank's stock worth $1,358,000 after purchasing an additional 1,508 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Texas Capital Bancshares by 5.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,948 shares of the bank's stock valued at $700,000 after acquiring an additional 450 shares during the period. KBC Group NV grew its position in Texas Capital Bancshares by 64.2% during the fourth quarter. KBC Group NV now owns 2,172 shares of the bank's stock worth $170,000 after buying an additional 849 shares during the period. Finally, R Squared Ltd purchased a new position in Texas Capital Bancshares in the 4th quarter valued at approximately $41,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TCBI shares. JPMorgan Chase & Co. lowered their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Barclays dropped their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler cut their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, StockNews.com upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $76.64.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 5,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $67.76 per share, for a total transaction of $338,800.00. Following the completion of the transaction, the director now owns 90,039 shares in the company, valued at $6,101,042.64. The trade was a 5.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders acquired 19,300 shares of company stock valued at $850,815. 1.72% of the stock is currently owned by corporate insiders.

Texas Capital Bancshares Stock Up 3.5%

TCBI stock traded up $2.56 during mid-day trading on Monday, hitting $75.41. 439,850 shares of the company were exchanged, compared to its average volume of 447,350. 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 firm has a fifty day simple moving average of $69.98 and a 200 day simple moving average of $77.34. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The company has a market capitalization of $3.46 billion, a PE ratio of 58.91, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The firm had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal 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.