Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 16,860.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,076 shares of the bank's stock after purchasing an additional 61,710 shares during the quarter. GAMMA Investing LLC owned approximately 0.13% of Texas Capital Bancshares worth $4,637,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TCBI. Picton Mahoney Asset Management purchased a new position in Texas Capital Bancshares in the fourth quarter valued at $30,000. Assetmark Inc. acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth about $32,000. Venturi Wealth Management LLC purchased a new position in shares of Texas Capital Bancshares in the 4th quarter valued at about $37,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Texas Capital Bancshares during the 4th quarter worth about $115,000. Finally, Sterling Capital Management LLC lifted its stake in Texas Capital Bancshares by 819.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after purchasing an additional 1,320 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

Shares of NASDAQ:TCBI traded down $0.51 on Thursday, reaching $76.11. 101,266 shares of the company were exchanged, compared to its average volume of 456,837. The company has a 50-day moving average of $70.12 and a 200-day moving average of $76.04. 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 firm has a market cap of $3.49 billion, a price-to-earnings ratio of 59.46, a price-to-earnings-growth ratio of 0.75 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $91.80.

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 the consensus estimate of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The firm had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. Equities analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert W. Stallings purchased 500 shares of the stock in a transaction on Wednesday, April 23rd. The stock was purchased at an average price of $68.20 per share, with a total value of $34,100.00. Following the completion of the transaction, the director now owns 289,961 shares in the company, valued at approximately $19,775,340.20. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 19,300 shares of company stock valued at $846,265 in the last 90 days. 1.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler dropped their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective 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. Barclays lowered their target price on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Hovde Group reduced their price target on shares of 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. Finally, DA Davidson dropped 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 note on Monday, April 21st. Three equities 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 company's stock. According to MarketBeat, Texas Capital Bancshares currently has a consensus rating of "Hold" and a consensus target price of $78.00.

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.