Legato Capital Management LLC Takes $317,000 Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Key Points

• Legato Capital Management LLC has acquired a new stake in Texas Capital Bancshares, Inc., purchasing 4,240 shares valued at approximately $317,000.
• Texas Capital Bancshares reported $1.63 earnings per share for its most recent quarter, exceeding analysts' expectations of $1.28, with quarterly revenue of $307.46 million.
• Insider buying activity includes Director Robert W. Stallings acquiring 10,500 shares at $20.28 per share, increasing their position by 21.21%.

Legato Capital Management LLC purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,240 shares of the bank's stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Texas Capital Bancshares in the fourth quarter worth $784,000. Sei Investments Co. lifted its stake in Texas Capital Bancshares by 7.9% in the fourth quarter. Sei Investments Co. now owns 74,367 shares of the bank's stock worth $5,815,000 after acquiring an additional 5,442 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Texas Capital Bancshares in the fourth quarter worth $735,000. LPL Financial LLC lifted its stake in Texas Capital Bancshares by 4.6% in the fourth quarter. LPL Financial LLC now owns 8,776 shares of the bank's stock worth $686,000 after acquiring an additional 382 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Texas Capital Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank's stock worth $367,327,000 after acquiring an additional 20,245 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Texas Capital Bancshares Stock Performance

Shares of TCBI stock traded down $0.41 during trading hours on Tuesday, reaching $86.07. 53,602 shares of the company traded hands, compared to its average volume of 498,504. The firm has a 50-day moving average price of $79.63 and a 200 day moving average price of $76.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $94.61. The company has a market cap of $3.94 billion, a P/E ratio of 34.19, a P/E/G ratio of 0.78 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $298.90 million. During the same period in the previous year, the firm earned $0.80 EPS. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 10,500 shares of Texas Capital Bancshares stock in a transaction on Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director directly owned 60,000 shares in the company, valued at $1,216,800. The trade was a 21.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders purchased 18,800 shares of company stock valued at $377,250. 1.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on TCBI. Keefe, Bruyette & Woods raised their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Stephens lowered their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group set a $80.00 price target on Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Piper Sandler reduced their price target on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Citigroup raised their price target on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.