Texas Capital Bancshares, Inc. $TCBI Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Texas Capital Bancshares by 0.8%, now owning 3,332,471 shares worth approximately $248.94 million.
• Texas Capital Bancshares reported $1.63 earnings per share for the last quarter, exceeding analyst expectations of $1.28, with a net margin of 6.79% and revenue of $307.46 million.
• The stock currently has an average analyst rating of "Hold" with a consensus target price of $83.50, reflecting varied sentiment among twelve research analysts.

T. Rowe Price Investment Management Inc. raised its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,332,471 shares of the bank's stock after buying an additional 26,786 shares during the period. T. Rowe Price Investment Management Inc. owned about 7.26% of Texas Capital Bancshares worth $248,936,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TCBI. Nuveen LLC acquired a new stake in shares of Texas Capital Bancshares in the first quarter valued at about $25,808,000. Azora Capital LP acquired a new position in Texas Capital Bancshares during the fourth quarter worth about $25,232,000. Texas Capital Bank Wealth Management Services Inc boosted its position in Texas Capital Bancshares by 2,249.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 249,401 shares of the bank's stock worth $18,630,000 after acquiring an additional 238,785 shares during the last quarter. SG Americas Securities LLC acquired a new position in Texas Capital Bancshares during the first quarter worth about $16,938,000. Finally, Millennium Management LLC boosted its position in Texas Capital Bancshares by 60.6% during the fourth quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock worth $30,144,000 after acquiring an additional 145,393 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Trading Up 0.8%

Shares of Texas Capital Bancshares stock traded up $0.73 on Tuesday, reaching $86.89. The company had a trading volume of 170,865 shares, compared to its average volume of 489,914. The firm's 50 day moving average price is $83.37 and its two-hundred day moving average price is $76.66. The firm has a market cap of $3.98 billion, a PE ratio of 34.49, a PEG ratio of 0.73 and a beta of 0.65. Texas Capital Bancshares, Inc. has a 52-week low of $59.37 and a 52-week high of $94.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. The business had revenue of $307.46 million for the quarter, compared to the consensus estimate of $298.90 million. Texas Capital Bancshares had a net margin of 6.79% and a return on equity of 10.36%. During the same period in the previous year, the firm earned $0.80 EPS. Sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert W. Stallings purchased 10,500 shares of Texas Capital Bancshares stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of $20.28 per share, with a total value of $212,940.00. Following the purchase, the director owned 60,000 shares of the company's stock, valued at approximately $1,216,800. The trade was a 21.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.72% of the company's stock.

Analysts Set New Price Targets

TCBI has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. boosted their price target on shares of Texas Capital Bancshares from $70.00 to $82.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods boosted their price target on shares of Texas Capital Bancshares from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Barclays boosted their price target on shares of Texas Capital Bancshares from $78.00 to $82.00 and gave the stock an "underweight" rating in a research report on Friday, July 18th. Finally, Hovde Group boosted their price target on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $83.50.

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.