Cresset Asset Management LLC Buys Shares of 8,089 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Cresset Asset Management LLC acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,089 shares of the bank's stock, valued at approximately $633,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the 4th quarter worth about $30,000. Assetmark Inc. bought a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $32,000. Venturi Wealth Management LLC bought a new stake in Texas Capital Bancshares during the 4th quarter worth approximately $37,000. R Squared Ltd bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Texas Capital Bancshares during the 4th quarter worth approximately $115,000. 96.88% of the stock is owned by institutional investors.

Texas Capital Bancshares Stock Performance

Shares of TCBI traded down $0.86 during midday trading on Friday, reaching $75.83. 351,973 shares of the stock were exchanged, compared to its average volume of 447,890. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.48 billion, a P/E ratio of 59.24, a PEG ratio of 0.75 and a beta of 0.62. The stock's 50 day simple moving average is $70.27 and its 200 day simple moving average is $77.30.

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

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price 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 of the company's stock, valued at approximately $6,101,042.64. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders bought 19,300 shares of company stock valued at $850,815. 1.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Hovde Group decreased their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Raymond James cut their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a report on Monday, April 21st. DA Davidson cut their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Stephens cut their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $76.64.

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.