MetLife Investment Management LLC Has $17.50 Million Position in Texas Capital Bancshares, Inc. $TCBI

Key Points

• MetLife Investment Management LLC increased its holdings in Texas Capital Bancshares by 339.3%, acquiring 180,914 shares and owning a total of 234,240 shares valued at $17.5 million by the end of the latest reporting period.
• Texas Capital Bancshares stocks were up 4.5%, with a current market price of $87.50 and a market capitalization of $4 billion.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and an average target price of $83.50, reflecting various adjustments in price targets from different research firms.

MetLife Investment Management LLC boosted its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 339.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,240 shares of the bank's stock after purchasing an additional 180,914 shares during the period. MetLife Investment Management LLC owned about 0.51% of Texas Capital Bancshares worth $17,498,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TCBI. UMB Bank n.a. increased its position in Texas Capital Bancshares by 1,089.8% during the first quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after buying an additional 534 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Texas Capital Bancshares by 127.0% in the first quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock valued at $62,000 after acquiring an additional 465 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in Texas Capital Bancshares by 69.7% in the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock valued at $172,000 after acquiring an additional 948 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Texas Capital Bancshares in the first quarter valued at $204,000. Finally, Mariner LLC purchased a new position in Texas Capital Bancshares in the fourth quarter valued at about $205,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Citigroup raised their price objective on Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research report on Friday, July 18th. Finally, Barclays lifted their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $83.50.

Insider Activity

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 10,500 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost 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 in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Stock Down 0.1%

Texas Capital Bancshares stock traded down $0.06 during midday trading on Friday, hitting $86.57. The stock had a trading volume of 532,479 shares, compared to its average volume of 440,214. 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 stock has a market cap of $3.96 billion, a P/E ratio of 34.35, a P/E/G ratio of 0.71 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 12 month low of $59.37 and a 12 month high of $94.61. The business has a fifty day moving average price of $84.27 and a 200 day moving average price of $76.82.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a return on equity of 10.36% and a net margin of 6.79%.The company had revenue of $307.46 million during the quarter, compared to the consensus estimate of $298.90 million. During the same period in the previous year, the firm posted $0.80 earnings per share. Research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS 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.