Fox Run Management L.L.C. Purchases Shares of 7,415 Texas Capital Bancshares, Inc. $TCBI

Key Points

• Fox Run Management L.L.C. acquired 7,415 shares of Texas Capital Bancshares, Inc. valued at approximately $554,000 during the first quarter of the year.
• Texas Capital Bancshares reported $1.63 earnings per share (EPS) for the last quarter, exceeding analysts' estimates of $1.28 by $0.35 and generating revenue of $307.46 million.
• Barclays and JPMorgan Chase & Co. both raised their price targets on Texas Capital Bancshares, with Barclays increasing from $78.00 to $82.00 and JPMorgan adjusting their target from $70.00 to $82.00.

Fox Run Management L.L.C. bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,415 shares of the bank's stock, valued at approximately $554,000.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares during the first quarter worth $528,000. Nomura Holdings Inc. purchased a new stake in Texas Capital Bancshares during the fourth quarter worth $479,000. Bank of America Corp DE boosted its position in Texas Capital Bancshares by 25.0% during the fourth quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after purchasing an additional 39,832 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares during the first quarter worth $16,938,000. Finally, Edgestream Partners L.P. boosted its position in Texas Capital Bancshares by 28.8% during the first quarter. Edgestream Partners L.P. now owns 131,139 shares of the bank's stock worth $9,796,000 after purchasing an additional 29,341 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TCBI. JPMorgan Chase & Co. boosted their target price on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays boosted their price target on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a report on Friday, July 18th. Hovde Group boosted their price target on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Trading Up 4.5%

Shares of NASDAQ:TCBI traded up $3.80 during midday trading on Friday, reaching $87.50. The company's stock had a trading volume of 1,160,010 shares, compared to its average volume of 407,041. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 0.73 and a beta of 0.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 1 year low of $59.37 and a 1 year high of $94.61. The business has a 50 day moving average price of $83.16 and a 200 day moving average price of $76.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. The business had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.During the same quarter in the previous year, the business earned $0.80 earnings per share. Research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.72% of the stock is currently owned by corporate insiders.

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.