Jupiter Asset Management Ltd. Has $11.39 Million Stock Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Texas Capital Bancshares by 47.5%, owning approximately 152,459 shares valued at $11,389,000.
• A significant portion of Texas Capital Bancshares' stock, 96.88%, is currently held by hedge funds and institutional investors, indicating strong institutional confidence.
• Analysts have mixed ratings on Texas Capital Bancshares, with a consensus target price of $83.50, reflecting varying growth expectations for the company's stock performance.

Jupiter Asset Management Ltd. grew its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 47.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,459 shares of the bank's stock after acquiring an additional 49,129 shares during the quarter. Jupiter Asset Management Ltd. owned 0.33% of Texas Capital Bancshares worth $11,389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bayforest Capital Ltd increased its stake in Texas Capital Bancshares by 69.7% during 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 in the last quarter. XTX Topco Ltd increased its stake in Texas Capital Bancshares by 69.7% during the 1st quarter. XTX Topco Ltd now owns 7,359 shares of the bank's stock worth $550,000 after purchasing an additional 3,022 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Texas Capital Bancshares by 59.7% during the 1st quarter. Meeder Asset Management Inc. now owns 6,324 shares of the bank's stock worth $472,000 after purchasing an additional 2,363 shares in the last quarter. TD Asset Management Inc increased its stake in Texas Capital Bancshares by 3.2% during the 1st quarter. TD Asset Management Inc now owns 43,032 shares of the bank's stock worth $3,214,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in Texas Capital Bancshares during the 1st quarter worth approximately $317,000. 96.88% of the stock is owned by institutional investors.

Insider Activity at Texas Capital Bancshares

In related news, Director Robert W. Stallings acquired 10,500 shares of the business'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 acquisition, the director owned 60,000 shares in the company, valued at $1,216,800. This represents a 21.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

TCBI has been the subject of a number of research reports. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Stephens lowered their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. DA Davidson lowered their target price on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Texas Capital Bancshares currently has an average rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Stock Down 1.2%

Shares of NASDAQ TCBI traded down $1.00 during trading hours on Thursday, hitting $79.58. The company had a trading volume of 24,840 shares, compared to its average volume of 495,754. The stock has a market capitalization of $3.64 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 0.68 and a beta of 0.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. Texas Capital Bancshares, Inc. has a 1-year low of $58.03 and a 1-year high of $94.61. The firm's 50 day moving average is $81.07 and its 200-day moving average is $76.39.

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

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.