Massachusetts Financial Services Co. MA Has $60.73 Million Holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Massachusetts Financial Services Co. MA boosted its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 9.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 813,028 shares of the bank's stock after acquiring an additional 68,195 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.77% of Texas Capital Bancshares worth $60,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Texas Capital Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 4,697,274 shares of the bank's stock worth $367,327,000 after buying an additional 20,245 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Texas Capital Bancshares by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank's stock worth $258,505,000 after acquiring an additional 28,282 shares in the last quarter. Northern Trust Corp grew its position in Texas Capital Bancshares by 12.0% in the fourth quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock worth $51,649,000 after acquiring an additional 70,804 shares in the last quarter. Norges Bank bought a new stake in Texas Capital Bancshares in the fourth quarter worth about $42,050,000. Finally, Segall Bryant & Hamill LLC lifted its stake in Texas Capital Bancshares by 4.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 490,018 shares of the bank's stock worth $38,319,000 after purchasing an additional 23,017 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the stock in a transaction on Wednesday, June 11th. The shares were bought at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the transaction, the director owned 60,000 shares of the company's stock, valued at $1,216,800. This trade represents a 21.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders purchased 25,300 shares of company stock worth $769,990. Insiders own 1.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TCBI shares. Piper Sandler cut 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 report on Monday, April 21st. DA Davidson cut their target price on shares of 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. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday. Keefe, Bruyette & Woods upped their price objective on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $83.50.

Texas Capital Bancshares Trading Down 0.3%

Shares of NASDAQ:TCBI traded down $0.29 during trading on Monday, hitting $89.44. 597,811 shares of the company's stock were exchanged, compared to its average volume of 463,009. The firm has a 50-day moving average price of $78.23 and a two-hundred day moving average price of $75.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.19. The firm has a market cap of $4.09 billion, a P/E ratio of 35.49, a PEG ratio of 0.88 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 1-year low of $56.24 and a 1-year high of $94.61.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.35. The business 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 business earned $0.80 EPS. Equities analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current 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.