Pallas Capital Advisors LLC Acquires New Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Pallas Capital Advisors LLC bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,823 shares of the bank's stock, valued at approximately $286,000.

Several other large investors also recently modified their holdings of TCBI. Nomura Holdings Inc. bought a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $479,000. Bank of America Corp DE lifted its position in Texas Capital Bancshares by 25.0% in the 4th quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock valued at $15,554,000 after acquiring an additional 39,832 shares in the last quarter. US Bancorp DE lifted its position in Texas Capital Bancshares by 1,575.0% in the 4th quarter. US Bancorp DE now owns 10,519 shares of the bank's stock valued at $823,000 after acquiring an additional 9,891 shares in the last quarter. Victory Capital Management Inc. raised its stake in Texas Capital Bancshares by 37.5% during the 4th quarter. Victory Capital Management Inc. now owns 96,397 shares of the bank's stock valued at $7,538,000 after buying an additional 26,294 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in Texas Capital Bancshares during the 1st quarter valued at $4,618,000. 96.88% of the stock is owned by institutional investors.

Insider Transactions at Texas Capital Bancshares

In related news, Director Robert W. Stallings bought 7,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was acquired at an average price of $19.78 per share, with a total value of $138,460.00. Following the completion of the purchase, the director now directly owns 255,913 shares of the company's stock, valued at approximately $5,061,959.14. This trade represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased 19,300 shares of company stock valued at $846,265 over the last 90 days. Corporate insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

TCBI has been the subject of several analyst reports. Raymond James reduced their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Piper Sandler dropped their price objective 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. Barclays lowered their price target on shares of Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Three 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $78.00.

Texas Capital Bancshares Price Performance

Shares of Texas Capital Bancshares stock traded down $1.29 during trading hours on Friday, reaching $75.36. The stock had a trading volume of 455,897 shares, compared to its average volume of 458,492. The stock's 50 day moving average is $70.66 and its 200 day moving average is $75.85. The firm has a market capitalization of $3.46 billion, a PE ratio of 58.88, a PEG ratio of 0.75 and a beta of 0.65. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $91.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.07). The firm had revenue of $280.48 million during the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. Equities analysts expect 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 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.