SG Americas Securities LLC Takes $16.94 Million Position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

SG Americas Securities LLC purchased a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 226,751 shares of the bank's stock, valued at approximately $16,938,000. SG Americas Securities LLC owned approximately 0.49% of Texas Capital Bancshares at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TCBI. Picton Mahoney Asset Management purchased a new position in Texas Capital Bancshares in the 4th quarter worth approximately $30,000. Assetmark Inc. purchased a new position in Texas Capital Bancshares in the 4th quarter worth approximately $32,000. Venturi Wealth Management LLC bought a new stake in Texas Capital Bancshares in the 4th quarter worth approximately $37,000. UMB Bank n.a. increased its stake in Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock worth $44,000 after acquiring an additional 534 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after acquiring an additional 465 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 7,000 shares of the stock in a transaction on Monday, June 2nd. The shares were bought at an average price of $19.78 per share, for a total transaction of $138,460.00. Following the completion of the transaction, the director now owns 255,913 shares of the company's stock, valued at $5,061,959.14. This trade represents a 2.81% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have acquired 19,300 shares of company stock valued at $846,265 in the last ninety days. Corporate insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TCBI shares. Barclays reduced their price objective on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Hovde Group reduced 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. 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 note on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $78.00.

Texas Capital Bancshares Trading Down 1.7%

TCBI traded down $1.29 during trading hours on Friday, reaching $75.36. 455,897 shares of the company's stock traded hands, compared to its average volume of 459,232. The firm has a 50-day moving average price of $70.66 and a 200 day moving average price of $75.76. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $91.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. 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 (NASDAQ:TCBI - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.92 earnings per share 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.