Sendero Wealth Management LLC Makes New Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Sendero Wealth Management LLC bought a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,600 shares of the bank's stock, valued at approximately $1,315,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in shares of Texas Capital Bancshares in the fourth quarter worth $30,000. Assetmark Inc. purchased a new stake in Texas Capital Bancshares in the 4th quarter worth $32,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares during the 4th quarter valued at about $37,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $115,000. Finally, Sterling Capital Management LLC grew its position in shares of Texas Capital Bancshares by 819.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock valued at $116,000 after purchasing an additional 1,320 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

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 dated Monday, June 2nd. The shares were acquired at an average cost of $19.78 per share, with a total value of $138,460.00. Following the completion of the transaction, the director now owns 255,913 shares in the company, valued at approximately $5,061,959.14. This trade represents a 2.81% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 19,300 shares of company stock worth $846,265 over the last 90 days. Company insiders own 1.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TCBI. Stephens cut their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Piper Sandler decreased their price target on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. DA Davidson dropped their price target on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating on the stock in a research note 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, the company presently has an average rating of "Hold" and a consensus target price of $78.00.

Texas Capital Bancshares Stock Up 0.3%

Shares of TCBI stock traded up $0.24 during mid-day trading on Thursday, hitting $72.37. The stock had a trading volume of 344,856 shares, compared to its average volume of 450,841. Texas Capital Bancshares, Inc. has a 12-month low of $56.24 and a 12-month high of $91.80. 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 firm's 50-day moving average is $69.60 and its two-hundred day moving average is $76.37. The firm has a market capitalization of $3.32 billion, a P/E ratio of 56.54, a price-to-earnings-growth ratio of 0.75 and a beta of 0.65.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued 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). The business had revenue of $280.48 million for the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a return on equity of 9.14% and a net margin of 3.99%. On average, analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal 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.