Massachusetts Financial Services Co. MA Buys 68,195 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Massachusetts Financial Services Co. MA boosted its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 813,028 shares of the bank's stock after purchasing an additional 68,195 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.77% of Texas Capital Bancshares worth $60,733,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at approximately $42,050,000. Azora Capital LP acquired a new position in shares of Texas Capital Bancshares in the 4th quarter valued at $25,232,000. SG Americas Securities LLC bought a new position in shares of Texas Capital Bancshares in the first quarter worth about $16,938,000. Millennium Management LLC grew its holdings in Texas Capital Bancshares by 60.6% during the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock valued at $30,144,000 after purchasing an additional 145,393 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Texas Capital Bancshares by 75.5% in the fourth quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank's stock valued at $24,812,000 after buying an additional 136,507 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Stock Up 4.5%

TCBI opened at $89.47 on Friday. The company's 50-day moving average price is $77.90 and its two-hundred day moving average price is $75.60. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 0.85 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. The business had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. During the same period last year, the business earned $0.80 EPS. As a group, equities analysts expect that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Stallings acquired 10,500 shares of Texas Capital Bancshares stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director owned 60,000 shares in the company, valued at $1,216,800. This trade represents a 21.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 29,800 shares of company stock worth $1,059,205 in the last 90 days. Corporate insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

TCBI has been the topic of a number of analyst reports. Hovde Group cut their price objective on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Raymond James Financial dropped their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Barclays lifted their price objective on Texas Capital Bancshares from $70.00 to $78.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. 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 report on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Texas Capital Bancshares currently has an average rating of "Hold" and a consensus price target of $79.43.

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.

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