Squarepoint Ops LLC Purchases 53,061 Shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Squarepoint Ops LLC raised its stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 108.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 101,815 shares of the bank's stock after purchasing an additional 53,061 shares during the period. Squarepoint Ops LLC owned 0.22% of Texas Capital Bancshares worth $7,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in Texas Capital Bancshares in the 4th quarter worth $30,000. Assetmark Inc. purchased a new position in shares of Texas Capital Bancshares in the fourth quarter valued at about $32,000. Venturi Wealth Management LLC bought a new position in shares of Texas Capital Bancshares in the fourth quarter worth about $37,000. R Squared Ltd purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $41,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Texas Capital Bancshares during the fourth quarter worth about $115,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analyst Ratings Changes

TCBI has been the subject of several recent analyst reports. Barclays dropped their price target on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Wall Street Zen raised shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Raymond James cut their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, DA Davidson reduced their target price on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a report 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. Based on data from MarketBeat.com, Texas Capital Bancshares currently has a consensus rating of "Hold" and a consensus target price of $78.00.

Texas Capital Bancshares Trading Up 2.4%

TCBI stock traded up $1.72 during mid-day trading on Tuesday, reaching $73.16. 381,386 shares of the stock traded hands, compared to its average volume of 450,276. Texas Capital Bancshares, Inc. has a one year low of $56.24 and a one year high of $91.80. The stock has a market capitalization of $3.36 billion, a PE ratio of 57.16, a PEG ratio of 0.75 and a beta of 0.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50-day moving average price of $70.13 and a two-hundred day moving average price of $77.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.07). The firm had revenue of $280.48 million for the quarter, compared to the consensus estimate of $284.40 million. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Insider Activity

In related news, Director Robert W. Stallings bought 500 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was purchased at an average cost of $68.20 per share, with a total value of $34,100.00. Following the completion of the purchase, the director now owns 289,961 shares of the company's stock, valued at $19,775,340.20. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have acquired 19,300 shares of company stock valued at $850,815. 1.72% of the stock is currently owned by insiders.

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.