Ieq Capital LLC Acquires 37,645 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Ieq Capital LLC increased its investment in Texas Capital Bancshares by 741.6% during the first quarter, now holding 42,721 shares worth approximately $3.19 million.
• Institutional investors own 96.88% of Texas Capital Bancshares, with several funds reporting significant increases in their stakes, reflecting strong confidence in the company's stock.
• Analysts have mixed ratings on Texas Capital Bancshares, with a consensus rating of "Hold" and a price target averaging around $83.50, despite recent upgrades from Barclays and JPMorgan Chase.

Ieq Capital LLC boosted its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 741.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,721 shares of the bank's stock after buying an additional 37,645 shares during the quarter. Ieq Capital LLC owned approximately 0.09% of Texas Capital Bancshares worth $3,191,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Capital Bancshares by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,332,471 shares of the bank's stock worth $248,936,000 after purchasing an additional 26,786 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Texas Capital Bancshares by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock worth $60,733,000 after acquiring an additional 68,195 shares during the period. Northern Trust Corp boosted its stake in shares of Texas Capital Bancshares by 12.0% during the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock worth $51,649,000 after acquiring an additional 70,804 shares during the period. Wellington Management Group LLP boosted its stake in shares of Texas Capital Bancshares by 2.5% during the 1st quarter. Wellington Management Group LLP now owns 591,488 shares of the bank's stock worth $44,184,000 after acquiring an additional 14,169 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Texas Capital Bancshares by 60.6% during the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after acquiring an additional 145,393 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

TCBI has been the subject of several research analyst reports. Hovde Group lifted their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a "hold" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target 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. Finally, Barclays boosted their price target on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock traded up $0.43 during trading on Wednesday, reaching $86.40. 349,920 shares of the company's stock were exchanged, compared to its average volume of 491,650. Texas Capital Bancshares, Inc. has a 1-year low of $59.37 and a 1-year high of $94.61. The firm's 50-day moving average price is $84.61 and its 200 day moving average price is $76.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $3.95 billion, a P/E ratio of 34.29, a PEG ratio of 0.71 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (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 business had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, research analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the purchase, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.72% of the company's stock.

About Texas Capital Bancshares

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.