Millennium Management LLC Has $30.14 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Millennium Management LLC boosted its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 60.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 385,477 shares of the bank's stock after purchasing an additional 145,393 shares during the period. Millennium Management LLC owned about 0.83% of Texas Capital Bancshares worth $30,144,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new position in shares of Texas Capital Bancshares during the 4th quarter worth $30,000. Assetmark Inc. bought a new position in Texas Capital Bancshares in the fourth quarter valued at about $32,000. Venturi Wealth Management LLC acquired a new position in Texas Capital Bancshares during the fourth quarter worth about $37,000. R Squared Ltd acquired a new position in Texas Capital Bancshares during the fourth quarter worth about $41,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $115,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 7,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $20.43 per share, for a total transaction of $143,010.00. Following the transaction, the director now owns 49,500 shares of the company's stock, valued at approximately $1,011,285. This trade represents a 16.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased 19,300 shares of company stock worth $850,815 over the last ninety days. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares Trading Down 0.4%

NASDAQ TCBI traded down $0.30 on Thursday, reaching $72.05. The company had a trading volume of 384,077 shares, compared to its average volume of 448,391. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 56.29, a P/E/G ratio of 0.75 and a beta of 0.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00. Texas Capital Bancshares, Inc. has a fifty-two week low of $56.24 and a fifty-two week high of $91.80. The business has a 50 day moving average of $70.37 and a two-hundred day moving average of $77.25.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly 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 net margin of 3.99% and a return on equity of 9.14%. The company had revenue of $280.48 million during the quarter, compared to the consensus estimate of $284.40 million. Analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TCBI shares. Hovde Group decreased their price target on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods cut their target price on shares of Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Piper Sandler lowered their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Wall Street Zen raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Raymond James reduced their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" 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.com, the company currently has an average rating of "Hold" and an average price target of $78.00.

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.