Merit Financial Group LLC Takes $270,000 Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Merit Financial Group LLC bought a new stake 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 Securities and Exchange Commission. The fund bought 3,616 shares of the bank's stock, valued at approximately $270,000.

Other large investors have also recently modified their holdings of the company. Bleakley Financial Group LLC purchased a new position in Texas Capital Bancshares during the 4th quarter valued at about $214,000. Empowered Funds LLC purchased a new position in Texas Capital Bancshares during the 4th quarter valued at about $288,000. Savant Capital LLC lifted its position in Texas Capital Bancshares by 5.7% during the 4th quarter. Savant Capital LLC now owns 5,604 shares of the bank's stock valued at $438,000 after acquiring an additional 303 shares during the period. Rhumbline Advisers lifted its position in Texas Capital Bancshares by 1.1% during the 4th quarter. Rhumbline Advisers now owns 167,686 shares of the bank's stock valued at $13,113,000 after acquiring an additional 1,811 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in Texas Capital Bancshares by 60.6% during the 4th quarter. Sanctuary Advisors LLC now owns 6,958 shares of the bank's stock valued at $552,000 after acquiring an additional 2,625 shares during the period. Institutional investors own 96.88% of the company's stock.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of Texas Capital Bancshares stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $19.78 per share, with a total value of $138,460.00. Following the transaction, the director now owns 255,913 shares of the company's stock, valued at $5,061,959.14. This represents a 2.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 19,300 shares of company stock worth $846,265 in the last three months. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Trading Up 0.2%

Shares of TCBI traded up $0.18 during midday trading on Monday, hitting $75.54. The stock had a trading volume of 382,302 shares, compared to its average volume of 458,923. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $91.80. The firm has a market cap of $3.47 billion, a PE ratio of 59.02, a price-to-earnings-growth ratio of 0.75 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50 day moving average is $70.93 and its 200 day moving average is $75.58.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Hovde Group lowered their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Stephens lowered their price target on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Texas Capital Bancshares has an average rating of "Hold" and a consensus target price of $78.00.

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.