Merit Financial Group LLC Makes New $270,000 Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Merit Financial Group LLC acquired a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,616 shares of the bank's stock, valued at approximately $270,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 purchasing an additional 20,245 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Capital Bancshares by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank's stock worth $258,505,000 after buying an additional 28,282 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Texas Capital Bancshares by 22.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 744,833 shares of the bank's stock valued at $58,246,000 after buying an additional 138,734 shares in the last quarter. Northern Trust Corp grew its stake in Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock valued at $51,649,000 after acquiring an additional 70,804 shares during the period. Finally, William Blair Investment Management LLC grew its stake in Texas Capital Bancshares by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 627,890 shares of the bank's stock valued at $49,101,000 after acquiring an additional 15,320 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 500 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $68.20 per share, with a total value of $34,100.00. Following the transaction, the director now owns 289,961 shares of the company's stock, valued at $19,775,340.20. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 19,300 shares of company stock valued at $846,265. 1.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TCBI shares. Barclays decreased their price objective on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Raymond James decreased their price target 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 Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Finally, Hovde Group decreased their target price on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $78.00.

Texas Capital Bancshares Trading Down 1.7%

Shares of NASDAQ TCBI traded down $1.29 during trading on Friday, hitting $75.36. 455,897 shares of the company were exchanged, compared to its average volume of 459,232. The company has a fifty day moving average price of $70.66 and a 200-day moving average price of $75.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $3.46 billion, a PE ratio of 58.88, a P/E/G ratio of 0.75 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $91.80.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. The firm had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. As a group, equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

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.