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

A number of other institutional investors also recently modified their holdings of TCBI. UMB Bank n.a. increased its stake in Texas Capital Bancshares by 1,089.8% during the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank's stock valued at $44,000 after purchasing an additional 534 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Texas Capital Bancshares by 127.0% during the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank's stock worth $62,000 after purchasing an additional 465 shares during the period. Sterling Capital Management LLC increased its position in Texas Capital Bancshares by 819.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank's stock worth $116,000 after buying an additional 1,320 shares during the last quarter. Bayforest Capital Ltd boosted its position in Texas Capital Bancshares by 69.7% during the first quarter. Bayforest Capital Ltd now owns 2,309 shares of the bank's stock worth $172,000 after purchasing an additional 948 shares during the period. Finally, United Capital Financial Advisors LLC bought a new position in Texas Capital Bancshares during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group set a $80.00 target price on shares of Texas Capital Bancshares and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Hovde Group raised their target price on shares of Texas Capital Bancshares from $75.00 to $95.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Piper Sandler lowered their target price on shares of Texas Capital Bancshares from $84.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Raymond James Financial lowered their target price on shares of Texas Capital Bancshares from $87.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, Stephens lowered their target price on shares of Texas Capital Bancshares from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. 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's stock. Based on data from MarketBeat, Texas Capital Bancshares presently has a consensus rating of "Hold" and an average price target of $83.50.

Insiders Place Their Bets

In related news, Director Robert W. Stallings purchased 10,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $20.28 per share, for a total transaction of $212,940.00. Following the completion of the acquisition, the director directly owned 60,000 shares in the company, valued at approximately $1,216,800. The trade was a 21.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.72% of the stock is currently owned by company insiders.

Texas Capital Bancshares Trading Down 0.9%

NASDAQ:TCBI traded down $0.76 during trading hours on Tuesday, hitting $83.59. The company had a trading volume of 443,864 shares, compared to its average volume of 491,570. The company has a market capitalization of $3.83 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The stock has a 50-day moving average price of $82.51 and a 200 day moving average price of $76.53. 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 current ratio of 1.00 and a quick 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 for the quarter, beating the consensus estimate of $1.28 by $0.35. The business had revenue of $307.46 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the business 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 fiscal year.

Texas Capital Bancshares Company 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.