Legato Capital Management LLC Invests $317,000 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 Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,240 shares of the bank's stock, valued at approximately $317,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after buying an additional 534 shares during the last quarter. GAMMA Investing LLC increased its stake in Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after buying an additional 465 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth about $115,000. Sterling Capital Management LLC increased its stake in shares of Texas Capital Bancshares by 819.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after purchasing an additional 1,320 shares during the last quarter. Finally, United Capital Financial Advisors LLC acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth about $202,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Price Performance

TCBI stock traded down $1.13 during trading on Friday, reaching $85.30. 775,743 shares of the company were exchanged, compared to its average volume of 547,715. The company has a 50-day moving average of $79.41 and a two-hundred day moving average of $76.04. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 0.78 and a beta of 0.66. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61. 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 (NASDAQ:TCBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. The firm had revenue of $307.46 million during the quarter, compared to analysts' expectations of $298.90 million. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Transactions at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the transaction, the director 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 legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have purchased 19,800 shares of company stock valued at $397,090. Corporate insiders own 1.72% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TCBI. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Raymond James Financial lowered their price objective on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Stephens lowered their price objective on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Barclays boosted their price objective on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research note on Friday, July 18th. Finally, Piper Sandler decreased their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and a consensus target price of $83.50.

Texas Capital Bancshares Company 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.