Teacher Retirement System of Texas Makes New $505,000 Investment in Texas Capital Bancshares, Inc. (NASDAQ:TCBI)

Teacher Retirement System of Texas purchased a new stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,756 shares of the bank's stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Texas Capital Bancshares in the first quarter valued at $528,000. Nomura Holdings Inc. purchased a new stake in Texas Capital Bancshares in the fourth quarter valued at $479,000. Bank of America Corp DE raised its position in Texas Capital Bancshares by 25.0% in the fourth quarter. Bank of America Corp DE now owns 198,906 shares of the bank's stock valued at $15,554,000 after purchasing an additional 39,832 shares during the period. SG Americas Securities LLC purchased a new stake in Texas Capital Bancshares in the first quarter valued at $16,938,000. Finally, Bessemer Group Inc. raised its position in Texas Capital Bancshares by 4.2% in the first quarter. Bessemer Group Inc. now owns 247,416 shares of the bank's stock valued at $18,482,000 after purchasing an additional 9,953 shares during the period. Institutional investors and hedge funds own 96.88% of the company's stock.

Texas Capital Bancshares Stock Up 0.3%

Shares of Texas Capital Bancshares stock traded up $0.26 during trading hours on Friday, hitting $89.73. 808,730 shares of the company's stock traded hands, compared to its average volume of 462,468. The stock has a 50 day simple moving average of $78.23 and a 200-day simple moving average of $75.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The company has a market cap of $4.12 billion, a PE ratio of 35.61, a PEG ratio of 0.89 and a beta of 0.66. Texas Capital Bancshares, Inc. has a twelve month low of $56.24 and a twelve month high of $94.61.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Texas Capital Bancshares from $70.00 to $82.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Piper Sandler dropped their price objective on Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on Texas Capital Bancshares from $92.00 to $86.00 and set an "outperform" 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 research note on Wednesday, May 21st. Finally, Hovde Group lifted their price objective on Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of "Hold" and an average price target of $82.50.

Insider Buying and Selling at Texas Capital Bancshares

In other Texas Capital Bancshares news, Director Robert W. Stallings purchased 10,500 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $20.28 per share, with a total value of $212,940.00. Following the completion of the acquisition, the director owned 60,000 shares in the company, valued at approximately $1,216,800. This represents a 21.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 29,800 shares of company stock worth $1,059,205. 1.72% of the stock is currently owned by corporate insiders.

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.