Massachusetts Financial Services Co. MA Increases Holdings in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Massachusetts Financial Services Co. increased its stake in Texas Capital Bancshares by 2.2% to 847,583 shares, representing about 1.86% of the company and valued at roughly $76.74 million per its latest SEC filing.
• Quarterly results beat expectations: TCBI reported $2.08 EPS vs. $1.78 expected and $327.5M in revenue, while analysts remain mixed with a consensus rating of "Hold" and an average price target of $100.75.
• Insider buying continues: two directors recently purchased stock (Laura Whitley 500 shares at $97.51; Robert Stallings 5,500 shares at $22.80) and insiders bought 49,500 shares in the past 90 days, now owning about 1.91% of the company.

Massachusetts Financial Services Co. MA lifted its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 847,583 shares of the bank's stock after buying an additional 18,258 shares during the period. Massachusetts Financial Services Co. MA owned about 1.86% of Texas Capital Bancshares worth $76,740,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Texas Capital Bancshares by 10.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $113,000 after buying an additional 121 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Texas Capital Bancshares by 4.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,902 shares of the bank's stock worth $245,000 after acquiring an additional 126 shares during the last quarter. Arizona State Retirement System grew its position in Texas Capital Bancshares by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 13,575 shares of the bank's stock worth $1,147,000 after acquiring an additional 126 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Texas Capital Bancshares by 4.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,665 shares of the bank's stock worth $310,000 after acquiring an additional 142 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Texas Capital Bancshares by 2.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,149 shares of the bank's stock worth $604,000 after acquiring an additional 144 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TCBI has been the topic of several recent research reports. Raymond James Financial raised their price target on Texas Capital Bancshares from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reduced their price target on Texas Capital Bancshares from $105.00 to $100.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Stephens increased their price objective on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Finally, TD Cowen increased their price objective on Texas Capital Bancshares from $103.00 to $110.00 and gave the stock a "hold" rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $100.75.

Insider Buying and Selling

In related news, Director Laura L. Whitley purchased 500 shares of the business's stock in a transaction that occurred on Monday, January 26th. The shares were bought at an average price of $97.51 per share, for a total transaction of $48,755.00. Following the purchase, the director directly owned 7,961 shares of the company's stock, valued at approximately $776,277.11. This represents a 6.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings purchased 5,500 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $22.80 per share, for a total transaction of $125,400.00. Following the purchase, the director directly owned 175,087 shares in the company, valued at $3,991,983.60. The trade was a 3.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 49,500 shares of company stock worth $1,252,855 in the last 90 days. Insiders own 1.91% of the company's stock.

Texas Capital Bancshares Stock Up 1.5%

Shares of Texas Capital Bancshares stock opened at $102.28 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $97.74 and a 200 day moving average of $92.87. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.94 and a beta of 0.67. Texas Capital Bancshares, Inc. has a 1 year low of $61.38 and a 1 year high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.30. The company had revenue of $327.48 million during the quarter, compared to analyst estimates of $324.09 million. Texas Capital Bancshares had a net margin of 16.52% and a return on equity of 10.05%. During the same period last year, the business earned $1.43 EPS. As a group, sell-side analysts anticipate that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.