Harbor Investment Advisory LLC Invests $656,000 in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Harbor Investment Advisory LLC has acquired a new position in Texas Capital Bancshares, purchasing 8,265 shares worth approximately $656,000.
• Texas Capital Bancshares reported $1.63 earnings per share for the last quarter, exceeding analysts' expectations of $1.28 and showcasing revenue of $307.46 million.
• Institutional investors own 96.88% of Texas Capital Bancshares, indicating a strong interest from large financial entities in the company.

Harbor Investment Advisory LLC purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,265 shares of the bank's stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $194,000. Intech Investment Management LLC lifted its position in shares of Texas Capital Bancshares by 22.1% in the 1st quarter. Intech Investment Management LLC now owns 29,790 shares of the bank's stock worth $2,225,000 after purchasing an additional 5,393 shares during the period. Bayforest Capital Ltd lifted its position in shares of Texas Capital Bancshares by 69.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after purchasing an additional 948 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Texas Capital Bancshares by 29.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,761 shares of the bank's stock worth $8,050,000 after purchasing an additional 24,538 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of Texas Capital Bancshares in the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Performance

TCBI opened at $86.98 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The company's fifty day moving average price is $85.47 and its two-hundred day moving average price is $77.26. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 0.72 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

TCBI has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Hovde Group boosted their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Barclays boosted their target price on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $84.00.

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.

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