Wealth Enhancement Advisory Services LLC Invests $528,000 in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 7,068 shares of the bank's stock, valued at approximately $528,000.

A number of other large investors have also added to or reduced their stakes in TCBI. Moody National Bank Trust Division grew its holdings in Texas Capital Bancshares by 1.5% during the 1st quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank's stock worth $1,317,000 after acquiring an additional 255 shares in the last quarter. Xponance Inc. grew its holdings in Texas Capital Bancshares by 4.8% during the 4th quarter. Xponance Inc. now owns 6,569 shares of the bank's stock worth $514,000 after acquiring an additional 300 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in Texas Capital Bancshares by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,825 shares of the bank's stock worth $1,472,000 after acquiring an additional 350 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Texas Capital Bancshares during the 4th quarter worth $30,000. Finally, LPL Financial LLC grew its holdings in Texas Capital Bancshares by 4.6% during the 4th quarter. LPL Financial LLC now owns 8,776 shares of the bank's stock worth $686,000 after acquiring an additional 382 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TCBI. Jefferies Financial Group set a $80.00 price objective on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price target on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Barclays decreased their price target on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Stephens decreased their price target on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, 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 report on Monday, April 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and a consensus price target of $78.86.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 10,500 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director owned 60,000 shares in the company, valued at approximately $1,216,800. The trade was a 21.21% 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 29,800 shares of company stock valued at $1,059,205. Company insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Performance

NASDAQ:TCBI traded up $1.59 during mid-day trading on Friday, hitting $85.85. The stock had a trading volume of 381,242 shares, compared to its average volume of 460,004. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 49.34, a P/E/G ratio of 0.96 and a beta of 0.66. The company has a 50 day simple moving average of $74.85 and a 200-day simple moving average of $75.03. Texas Capital Bancshares, Inc. has a 52 week low of $56.24 and a 52 week high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. On average, research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal 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.