111 Capital Takes Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• 111 Capital has acquired a new position in Texas Capital Bancshares, purchasing 2,919 shares valued at approximately $232,000 during the second quarter.
• Texas Capital Bancshares reported earnings per share (EPS) of $1.63 for the last quarter, exceeding analysts' expectations of $1.28.
• Analysts have raised their price targets for Texas Capital Bancshares, with Keefe, Bruyette & Woods setting a new target of $100.00 and others adjusting estimates upward, reflecting a positive outlook for the stock.

111 Capital bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,919 shares of the bank's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TCBI. Ameritas Advisory Services LLC acquired a new stake in Texas Capital Bancshares during the 2nd quarter worth about $52,000. GAMMA Investing LLC grew its stake in Texas Capital Bancshares by 45.7% during the second quarter. GAMMA Investing LLC now owns 1,211 shares of the bank's stock worth $96,000 after purchasing an additional 380 shares during the period. UMB Bank n.a. increased its holdings in Texas Capital Bancshares by 29.7% in the second quarter. UMB Bank n.a. now owns 756 shares of the bank's stock worth $60,000 after purchasing an additional 173 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Texas Capital Bancshares by 22.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,682 shares of the bank's stock worth $745,000 after purchasing an additional 1,614 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in Texas Capital Bancshares by 11.3% in the second quarter. Pallas Capital Advisors LLC now owns 4,255 shares of the bank's stock valued at $338,000 after buying an additional 432 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Trading Up 2.1%

TCBI opened at $86.50 on Tuesday. Texas Capital Bancshares, Inc. has a fifty-two week low of $59.37 and a fifty-two week high of $94.61. The firm has a market capitalization of $3.96 billion, a PE ratio of 34.33, a P/E/G ratio of 0.70 and a beta of 0.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The company's 50-day moving average is $84.95 and its 200 day moving average is $78.47.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.The firm had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Barclays increased their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Hovde Group boosted their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Finally, Cowen assumed coverage on Texas Capital Bancshares in a research note on Wednesday, September 24th. They set a "hold" rating on the stock. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $84.00.

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.

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