Rafferty Asset Management LLC Raises Stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Rafferty Asset Management LLC increased its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,175 shares of the bank's stock after purchasing an additional 14,156 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.19% of Texas Capital Bancshares worth $6,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 20,245 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Texas Capital Bancshares by 0.9% in 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 purchasing an additional 28,282 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Texas Capital Bancshares by 22.9% in 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 during the last quarter. Northern Trust Corp boosted its stake in shares of Texas Capital Bancshares by 12.0% in the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock worth $51,649,000 after buying an additional 70,804 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Texas Capital Bancshares by 2.5% in the fourth 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 in the last quarter. 96.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 7,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $20.43 per share, with a total value of $143,010.00. Following the completion of the acquisition, the director now owns 49,500 shares of the company's stock, valued at $1,011,285. This trade represents a 16.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 19,300 shares of company stock worth $850,815 in the last ninety days. 1.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TCBI has been the subject of a number of recent analyst reports. Stephens reduced their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Barclays lowered 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 research report on Tuesday, April 8th. StockNews.com upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Hovde Group dropped their price objective on Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating on the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $78.00.

Texas Capital Bancshares Price Performance

Shares of TCBI traded down $3.00 during midday trading on Wednesday, hitting $72.35. 281,636 shares of the company traded hands, compared to its average volume of 448,649. The stock has a 50-day moving average of $70.42 and a 200-day moving average of $77.28. 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 one year low of $56.24 and a one year high of $91.80. The firm has a market cap of $3.32 billion, a P/E ratio of 56.52, a PEG ratio of 0.75 and a beta of 0.62.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $284.40 million. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS 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.