Congress Asset Management Co. Makes New $4.62 Million Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Congress Asset Management Co. bought a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 61,816 shares of the bank's stock, valued at approximately $4,618,000. Congress Asset Management Co. owned approximately 0.13% of Texas Capital Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TCBI. Picton Mahoney Asset Management bought a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $30,000. Assetmark Inc. purchased a new stake in Texas Capital Bancshares in the fourth quarter worth about $32,000. Venturi Wealth Management LLC purchased a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $37,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $115,000. Finally, Sterling Capital Management LLC lifted its position in shares of Texas Capital Bancshares by 819.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock valued at $116,000 after acquiring an additional 1,320 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 500 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were acquired at an average price of $68.20 per share, with a total value of $34,100.00. Following the purchase, the director now directly owns 289,961 shares in the company, valued at approximately $19,775,340.20. This trade represents a 0.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 19,300 shares of company stock worth $846,265. 1.72% of the stock is owned by corporate insiders.

Texas Capital Bancshares Stock Performance

Shares of NASDAQ TCBI traded up $0.03 during midday trading on Thursday, reaching $76.65. 319,472 shares of the stock were exchanged, compared to its average volume of 457,670. The firm has a 50-day simple moving average of $70.12 and a two-hundred day simple moving average of $76.04. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 59.88, a PEG ratio of 0.75 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). The firm 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%. As a group, analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced 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 report on Monday, April 21st. Raymond James reduced their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Barclays lowered their target price on shares of 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. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, DA Davidson cut their price objective on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Texas Capital Bancshares presently has an average rating of "Hold" and an average price target of $78.00.

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.