Bank of America Corp DE Boosts Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Bank of America Corp DE grew its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,906 shares of the bank's stock after buying an additional 39,832 shares during the period. Bank of America Corp DE owned 0.43% of Texas Capital Bancshares worth $15,554,000 at the end of the most recent reporting period.

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

Texas Capital Bancshares Trading Down 0.8%

Shares of NASDAQ:TCBI traded down $0.61 during trading on Friday, reaching $71.44. 453,986 shares of the company traded hands, compared to its average volume of 450,553. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 55.81, a P/E/G ratio of 0.75 and a beta of 0.62. 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 0.22. The business's fifty day moving average is $70.22 and its 200-day moving average is $77.12.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The business had revenue of $280.48 million during 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%. As a group, analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TCBI shares. Piper Sandler cut their target price on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their target price on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Barclays cut their target price on 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. DA Davidson cut their target price on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and an average target price of $78.00.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 4,500 shares of the stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $64.27 per share, with a total value of $289,215.00. Following the completion of the transaction, the director now owns 288,131 shares of the company's stock, valued at $18,518,179.37. This represents a 1.59% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 19,300 shares of company stock worth $850,815 over the last quarter. Corporate insiders own 1.72% of the company's stock.

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.