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

Squarepoint Ops LLC boosted its holdings in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 108.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,815 shares of the bank's stock after purchasing an additional 53,061 shares during the quarter. Squarepoint Ops LLC owned approximately 0.22% of Texas Capital Bancshares worth $7,962,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TCBI. Picton Mahoney Asset Management acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at $30,000. Assetmark Inc. acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $32,000. Venturi Wealth Management LLC acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in Texas Capital Bancshares in the fourth quarter valued at approximately $41,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Texas Capital Bancshares in the fourth quarter worth $115,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Up 0.6%

NASDAQ TCBI traded up $0.43 during trading hours on Thursday, reaching $72.01. 45,716 shares of the company's stock were exchanged, compared to its average volume of 450,750. The company's 50-day moving average is $69.99 and its two-hundred day moving average is $76.93. Texas Capital Bancshares, Inc. has a one year low of $56.24 and a one year high of $91.80. 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 company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 56.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly 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). 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 forecast that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings purchased 4,500 shares of Texas Capital Bancshares stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $64.27 per share, for a total transaction of $289,215.00. Following the completion of the acquisition, the director now owns 288,131 shares in the company, valued at approximately $18,518,179.37. This trade represents a 1.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 19,300 shares of company stock valued at $850,815 in the last quarter. 1.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TCBI. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Jefferies Financial Group set a $80.00 price target on shares of Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. DA Davidson lowered their price target on shares of Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barclays reduced their target price on shares of 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. Finally, Piper Sandler reduced their target price 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $78.00.

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.