Dark Forest Capital Management LP Purchases New Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Dark Forest Capital Management LP bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,692 shares of the bank's stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Picton Mahoney Asset Management bought a new stake in Texas Capital Bancshares during the fourth quarter worth about $30,000. Assetmark Inc. bought a new position in Texas Capital Bancshares during the 4th quarter valued at approximately $32,000. Venturi Wealth Management LLC purchased a new position in Texas Capital Bancshares during the fourth quarter valued at $37,000. R Squared Ltd bought a new stake in Texas Capital Bancshares in the fourth quarter worth $41,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Texas Capital Bancshares in the fourth quarter worth $115,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 5,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $67.76 per share, with a total value of $338,800.00. Following the acquisition, the director now owns 90,039 shares of the company's stock, valued at approximately $6,101,042.64. This represents a 5.88 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 32,000 shares of company stock worth $1,121,905. Company insiders own 1.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target 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. Raymond James reduced their price target on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Barclays lowered their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Stephens lowered their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $76.64.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI traded up $1.89 during midday trading on Friday, hitting $70.64. 220,363 shares of the company's stock traded hands, compared to its average volume of 446,857. The firm has a fifty day moving average of $70.80 and a 200 day moving average of $77.65. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $91.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.74.

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