6,756 Shares in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,756 shares of the bank's stock, valued at approximately $505,000.

A number of other hedge funds have also bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $1,688,000. Raymond James Financial Inc. bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $784,000. PNC Financial Services Group Inc. grew its stake in shares of Texas Capital Bancshares by 87.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,559 shares of the bank's stock valued at $278,000 after purchasing an additional 1,657 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Texas Capital Bancshares by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,381 shares of the bank's stock valued at $968,000 after purchasing an additional 1,908 shares during the period. Finally, Madison Investment Advisors LLC bought a new stake in shares of Texas Capital Bancshares during the 4th quarter valued at about $4,388,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TCBI shares. JPMorgan Chase & Co. boosted their price target 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. Barclays boosted their price objective on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research note on Friday. Stephens cut their price objective on Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Raymond James Financial cut their price objective on Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Citigroup lifted their price objective on shares of Texas Capital Bancshares from $69.00 to $79.00 and gave the company a "sell" rating in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average target price of $82.50.

Insider Buying and Selling at Texas Capital Bancshares

In related news, Director Robert W. Stallings purchased 10,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average cost of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at $1,216,800. This represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 29,800 shares of company stock valued at $1,059,205 over the last ninety days. Company insiders own 1.72% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of TCBI stock traded up $0.26 on Friday, reaching $89.73. The company's stock had a trading volume of 808,675 shares, compared to its average volume of 465,202. The stock's fifty day simple moving average is $77.90 and its 200-day simple moving average is $75.60. Texas Capital Bancshares, Inc. has a 1 year low of $56.24 and a 1 year high of $94.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.35. Texas Capital Bancshares had a net margin of 5.04% and a return on equity of 9.39%. The firm had revenue of $307.46 million during the quarter, compared to analyst estimates of $298.90 million. During the same period last year, the firm posted $0.80 earnings per share. Analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share 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.