Vanguard Group Inc. Purchases 10,399 Shares of Texas Capital Bancshares, Inc. $TCBI

Key Points

• Vanguard Group Inc. has increased its holdings in Texas Capital Bancshares by 0.2%, owning approximately 10.26% of the company with a value of $351.66 million.
• Texas Capital Bancshares reported a quarterly earnings of $1.63 per share, exceeding analyst expectations of $1.28, with total revenue of $307.46 million.
• Institutional investors and hedge funds own 96.88% of Texas Capital Bancshares, indicating strong institutional interest in the company.

Vanguard Group Inc. raised its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,707,673 shares of the bank's stock after purchasing an additional 10,399 shares during the quarter. Vanguard Group Inc. owned 10.26% of Texas Capital Bancshares worth $351,663,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Texas Capital Bancshares by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,305,685 shares of the bank's stock valued at $258,505,000 after acquiring an additional 28,282 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Texas Capital Bancshares by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 813,028 shares of the bank's stock valued at $60,733,000 after acquiring an additional 68,195 shares during the last quarter. Northern Trust Corp boosted its position in shares of Texas Capital Bancshares by 12.0% during the 4th quarter. Northern Trust Corp now owns 660,478 shares of the bank's stock valued at $51,649,000 after acquiring an additional 70,804 shares during the last quarter. Millennium Management LLC boosted its position in shares of Texas Capital Bancshares by 60.6% during the 4th quarter. Millennium Management LLC now owns 385,477 shares of the bank's stock valued at $30,144,000 after acquiring an additional 145,393 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Texas Capital Bancshares by 7.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 330,898 shares of the bank's stock valued at $25,876,000 after acquiring an additional 22,676 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robert W. Stallings purchased 10,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, with a total value of $212,940.00. Following the transaction, the director owned 60,000 shares of the company's stock, valued at $1,216,800. This represents a 21.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.72% of the company's stock.

Texas Capital Bancshares Trading Down 0.5%

TCBI stock traded down $0.39 during midday trading on Thursday, reaching $83.70. The company's stock had a trading volume of 204,849 shares, compared to its average volume of 414,445. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day simple moving average of $82.91 and a two-hundred day simple moving average of $76.68. Texas Capital Bancshares, Inc. has a 1 year low of $59.37 and a 1 year high of $94.61. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 0.70 and a beta of 0.65.

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

Analysts Set New Price Targets

TCBI has been the subject of a number of research reports. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company a "hold" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods increased their target price on Texas Capital Bancshares from $86.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Wall Street Zen upgraded Texas Capital Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Barclays increased their target price on Texas Capital Bancshares from $78.00 to $82.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Finally, Hovde Group increased their target price on Texas Capital Bancshares from $75.00 to $95.00 and gave the company 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 assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and a consensus price target of $83.50.

About Texas Capital Bancshares

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.