Intech Investment Management LLC Boosts Stock Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Intech Investment Management LLC has increased its stake in Texas Capital Bancshares by 22.1%, now holding nearly 30,000 shares valued at approximately $2.23 million.
• Several institutional investors have recently altered their positions, with Texas Capital Bank Wealth Management Services notably boosting its holdings by 2,249.3% during the same quarter.
• Texas Capital Bancshares reported an earnings per share (EPS) of $1.63, exceeding analyst estimates by $0.35, and had a revenue of $307.46 million, also above expectations.

Intech Investment Management LLC grew its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 22.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,790 shares of the bank's stock after purchasing an additional 5,393 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Texas Capital Bancshares worth $2,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Texas Capital Bancshares by 25.0% in the fourth quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock worth $15,554,000 after acquiring an additional 39,832 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Texas Capital Bancshares by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,397 shares of the bank's stock valued at $2,064,000 after purchasing an additional 1,011 shares during the period. Millennium Management LLC boosted its holdings in shares of Texas Capital Bancshares by 60.6% in the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after purchasing an additional 145,393 shares during the period. Nomura Holdings Inc. purchased a new position in Texas Capital Bancshares during the 4th quarter valued at $479,000. Finally, ProShare Advisors LLC raised its position in Texas Capital Bancshares by 41.2% during the 4th quarter. ProShare Advisors LLC now owns 15,221 shares of the bank's stock valued at $1,190,000 after purchasing an additional 4,443 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

TCBI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Hovde Group increased their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Citigroup raised their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Finally, Barclays boosted their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.00.

Texas Capital Bancshares Trading Down 1.0%

Shares of TCBI traded down $0.89 during mid-day trading on Friday, reaching $86.98. 821,523 shares of the company's stock traded hands, compared to its average volume of 426,594. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The stock's 50-day moving average is $85.42 and its two-hundred day moving average is $77.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $3.98 billion, a P/E ratio of 34.52, a P/E/G ratio of 0.72 and a beta of 0.69.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. The firm had revenue of $307.46 million for the quarter, compared to analysts' expectations 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 period last year, the firm earned $0.80 EPS. Research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

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.