Squarepoint Ops LLC Purchases Shares of 31,416 Texas Capital Bancshares, Inc. $TCBI

Key Points

• Squarepoint Ops LLC acquired 31,416 shares of Texas Capital Bancshares worth approximately $3.24 million, while institutional investors collectively own 96.88% of the company.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and an average price target of $105.83; recent targets range from $100 to $110.
• Texas Capital Bancshares exceeded quarterly estimates with $1.88 EPS and $335.5 million in revenue, up 9.1% year over year. The company also declared a quarterly dividend of $0.20 per share, representing a 0.8% annualized yield.

Squarepoint Ops LLC purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,416 shares of the bank's stock, valued at approximately $3,244,000. Squarepoint Ops LLC owned about 0.07% of Texas Capital Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Evolve Private Wealth LLC grew its position in shares of Texas Capital Bancshares by 1.7% in the 1st quarter. Evolve Private Wealth LLC now owns 5,987 shares of the bank's stock valued at $568,000 after buying an additional 98 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Texas Capital Bancshares by 2.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,079 shares of the bank's stock valued at $550,000 after acquiring an additional 135 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Texas Capital Bancshares by 85.2% in the first quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after acquiring an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Texas Capital Bancshares by 14.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock valued at $143,000 after purchasing an additional 189 shares during the period. Finally, Arizona State Retirement System increased its position in Texas Capital Bancshares by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 12,200 shares of the bank's stock valued at $1,260,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Fundamental Research set a $110.00 price objective on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Barclays upgraded shares of Texas Capital Bancshares from an "underweight" rating to an "equal weight" rating and set a $100.00 target price on the stock in a report on Monday, August 3rd. Finally, TD Cowen cut their price target on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a "hold" rating on the stock in a research report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $105.83.

Texas Capital Bancshares Price Performance

Texas Capital Bancshares stock opened at $99.09 on Monday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.21 and a beta of 0.66. Texas Capital Bancshares, Inc. has a 52-week low of $75.41 and a 52-week high of $108.92. The stock's 50 day moving average price is $100.14 and its two-hundred day moving average price is $99.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million for the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. Texas Capital Bancshares's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 EPS. On average, equities analysts predict that Texas Capital Bancshares, Inc. will post 7.39 earnings per share for the current year.

Texas Capital Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Capital Bancshares's payout ratio is presently 10.40%.

Insider Buying and Selling

In other Texas Capital Bancshares news, insider Ellen Detrich sold 2,045 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $100.03, for a total value of $204,561.35. Following the transaction, the insider owned 7,529 shares in the company, valued at approximately $753,125.87. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.91% of the stock is owned by insiders.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is the parent company of Texas Capital Bank, a full-service financial institution headquartered in Dallas, Texas. The bank provides banking, lending and financial services to businesses, entrepreneurs, professionals, high-net-worth individuals and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, treasury management, private banking, wealth management, investment banking and capital markets services.

Want to see what other hedge funds are holding TCBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.