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

Congress Asset Management Co. bought a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 61,816 shares of the bank's stock, valued at approximately $4,618,000. Congress Asset Management Co. owned 0.13% of Texas Capital Bancshares as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TCBI. Bleakley Financial Group LLC purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $214,000. Empowered Funds LLC purchased a new position in Texas Capital Bancshares in the 4th quarter valued at about $288,000. Entropy Technologies LP acquired a new stake in Texas Capital Bancshares during the 4th quarter valued at approximately $849,000. Savant Capital LLC increased its stake in shares of Texas Capital Bancshares by 5.7% in the fourth quarter. Savant Capital LLC now owns 5,604 shares of the bank's stock worth $438,000 after buying an additional 303 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Texas Capital Bancshares by 1.1% in the 4th quarter. Rhumbline Advisers now owns 167,686 shares of the bank's stock worth $13,113,000 after purchasing an additional 1,811 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of TCBI opened at $76.05 on Monday. The business has a 50-day moving average of $69.59 and a 200-day moving average of $76.09. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $91.80. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 59.41, a price-to-earnings-growth ratio of 0.75 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. As a group, equities research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Stallings bought 500 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now owns 289,961 shares of the company's stock, valued at approximately $19,775,340.20. The trade was a 0.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have purchased 19,300 shares of company stock valued at $846,265. 1.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Hovde Group reduced their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Stephens dropped their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company 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. Finally, Piper Sandler cut their price target 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average target price of $78.00.

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.

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