Hsbc Holdings PLC Increases Stake in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Hsbc Holdings PLC increased its holdings in Texas Capital Bancshares, Inc. by 69% in the first quarter, owning a total of 19,524 shares valued at approximately $1,449,000.
• Insider transactions were notable, with Director Robert W. Stallings purchasing 10,500 shares at an average price of $20.28, increasing his stake by 21.21%.
• Analysts have varied ratings on Texas Capital Bancshares, with targets ranging from $70.00 to $95.00, and an average consensus price target of $83.50.

Hsbc Holdings PLC increased its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,524 shares of the bank's stock after purchasing an additional 7,974 shares during the period. Hsbc Holdings PLC's holdings in Texas Capital Bancshares were worth $1,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Texas Capital Bancshares during the first quarter valued at approximately $528,000. Texas Capital Bank Wealth Management Services Inc grew its position in Texas Capital Bancshares by 2,249.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock valued at $18,630,000 after acquiring an additional 238,785 shares during the last quarter. Nomura Holdings Inc. bought a new position in Texas Capital Bancshares during the fourth quarter valued at approximately $479,000. Bank of America Corp DE grew 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 valued at $15,554,000 after acquiring an additional 39,832 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Texas Capital Bancshares during the first quarter valued at approximately $16,938,000. 96.88% of the stock is currently owned by institutional investors.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the acquisition, the director owned 60,000 shares in the company, valued at $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is currently owned by company insiders.

Texas Capital Bancshares Trading Down 1.0%

TCBI stock traded down $0.86 on Tuesday, reaching $85.72. The company's stock had a trading volume of 180,219 shares, compared to its average volume of 491,165. The business has a fifty day simple moving average of $84.45 and a two-hundred day simple moving average of $76.82. Texas Capital Bancshares, Inc. has a 12-month low of $59.37 and a 12-month high of $94.61. The firm has a market cap of $3.92 billion, a PE ratio of 34.02, a PEG ratio of 0.71 and a beta of 0.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Hovde Group increased their price target 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. JPMorgan Chase & Co. increased their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Citigroup increased their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods increased their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $83.50.

Texas Capital Bancshares 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.