15,045 Shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Purchased by Summit Global Investments

Summit Global Investments bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 15,045 shares of the bank's stock, valued at approximately $1,124,000.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Texas Capital Bancshares by 16,860.7% in the first quarter. GAMMA Investing LLC now owns 62,076 shares of the bank's stock valued at $4,637,000 after purchasing an additional 61,710 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Texas Capital Bancshares by 1.5% during the first quarter. Moody National Bank Trust Division now owns 17,626 shares of the bank's stock worth $1,317,000 after buying an additional 255 shares in the last quarter. 111 Capital purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $249,000. Public Employees Retirement System of Ohio purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $2,815,000. Finally, GTS Securities LLC purchased a new position in Texas Capital Bancshares during the fourth quarter worth approximately $327,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Hovde Group lowered their target price on shares of Texas Capital Bancshares from $84.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Jefferies Financial Group set a $80.00 price objective on Texas Capital Bancshares and gave the company a "hold" rating in a report on Wednesday, May 21st. Raymond James cut their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Stephens cut their price target on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price target on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $78.00.

Insider Buying and Selling

In other news, Director Robert W. Stallings acquired 500 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was acquired at an average cost of $68.20 per share, for a total transaction of $34,100.00. Following the completion of the acquisition, the director now owns 289,961 shares in the company, valued at approximately $19,775,340.20. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 12,300 shares of company stock worth $707,805. Corporate insiders own 1.72% of the company's stock.

Texas Capital Bancshares Price Performance

NASDAQ TCBI traded up $1.17 on Tuesday, reaching $72.64. 260,847 shares of the stock traded hands, compared to its average volume of 450,658. The firm's fifty day simple moving average is $69.68 and its 200 day simple moving average is $76.42. 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 company has a market cap of $3.33 billion, a price-to-earnings ratio of 56.75, a P/E/G ratio of 0.75 and a beta of 0.62. Texas Capital Bancshares, Inc. has a 12 month low of $56.24 and a 12 month high of $91.80.

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 analysts' consensus estimates of $0.99 by ($0.07). Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. The business had revenue of $280.48 million for the quarter, compared to analysts' expectations of $284.40 million. As a group, research analysts predict that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current fiscal year.

Texas Capital Bancshares 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.