Edgestream Partners L.P. Increases Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Edgestream Partners L.P. lifted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 28.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,139 shares of the bank's stock after acquiring an additional 29,341 shares during the quarter. Edgestream Partners L.P. owned 0.29% of Texas Capital Bancshares worth $9,796,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its holdings in Texas Capital Bancshares by 420.8% in the first quarter. CWM LLC now owns 10,343 shares of the bank's stock valued at $773,000 after buying an additional 8,357 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Texas Capital Bancshares by 4.4% in the first quarter. New York State Common Retirement Fund now owns 171,879 shares of the bank's stock valued at $12,839,000 after buying an additional 7,254 shares during the last quarter. Cerity Partners LLC increased its holdings in Texas Capital Bancshares by 180.2% in the first quarter. Cerity Partners LLC now owns 10,581 shares of the bank's stock valued at $790,000 after buying an additional 6,805 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Texas Capital Bancshares by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,838 shares of the bank's stock valued at $810,000 after buying an additional 207 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Texas Capital Bancshares by 0.5% in the first quarter. Principal Financial Group Inc. now owns 106,680 shares of the bank's stock valued at $7,969,000 after buying an additional 549 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several research analyst reports. Piper Sandler lowered their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods decreased 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. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday. Raymond James Financial decreased their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Stephens decreased their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $79.43.

Insiders Place Their Bets

In other news, Director Robert W. Stallings bought 10,500 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares of the company's stock, valued at approximately $1,216,800. This trade represents a 21.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 29,800 shares of company stock valued at $1,059,205 in the last three months. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Performance

TCBI opened at $86.35 on Monday. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 0.96 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80. The business has a 50 day moving average price of $76.60 and a two-hundred day moving average price of $75.31.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. Research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

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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