Summit Global Investments Purchases Shares of 15,045 Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Summit Global Investments purchased a new stake in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,045 shares of the bank's stock, valued at approximately $1,124,000.

A number of other large investors have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $30,000. Assetmark Inc. bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $32,000. Venturi Wealth Management LLC bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $37,000. R Squared Ltd bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $41,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at $115,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Price Performance

TCBI stock traded down $0.60 during trading on Wednesday, hitting $72.04. 78,935 shares of the company's stock traded hands, compared to its average volume of 450,142. Texas Capital Bancshares, Inc. has a 52 week low of $56.24 and a 52 week 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 business has a fifty day simple moving average of $69.63 and a 200 day simple moving average of $76.40. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 56.28, a P/E/G ratio of 0.75 and a beta of 0.62.

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

Insider Activity

In other news, Director Robert W. Stallings bought 5,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were bought at an average price of $67.76 per share, with a total value of $338,800.00. Following the completion of the transaction, the director now directly owns 90,039 shares in the company, valued at $6,101,042.64. This trade represents a 5.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 12,300 shares of company stock worth $707,805 in the last ninety days. Company insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TCBI. DA Davidson reduced their target price on Texas Capital Bancshares from $81.00 to $76.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Raymond James reduced their target price 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. Barclays reduced their target price on Texas Capital Bancshares from $73.00 to $70.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on Texas Capital Bancshares from $78.00 to $70.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $78.00.

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.